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Bull Run on D-Street! This stock turned into a multibagger in 2021; hit an all-time high today

Bull Run on D-Street! This stock turned into a multibagger in 2021; hit an all-time high today

This multibagger stock surged from Rs 68 to Rs 156.10 mark today. It has gained 129 per cent since the beginning of this year and has risen 160.5 per cent in the last year.

Bull Run on D-Street! This stock turned into a multibagger in 2021; hit an all-time high today Bull Run on D-Street! This stock turned into a multibagger in 2021; hit an all-time high today

The party on Dalal Street keeps getting bigger. Equity benchmark Sensex surged over 800 points to touch an all-time high of 59,764.79, and the broader NSE Nifty 50 index zoomed over 200 points to 17,782.40.
 
Amid the astounding market rally, shares of Welspun India have more than doubled investors' money so far in 2021. In comparison, the Nifty 50 index gained over 27 per cent and the S&P BSE Sensex index rose over 25 per cent.
 
This multibagger stock surged from Rs 68 to Rs 156.10 mark today. It has gained 129 per cent since the beginning of this year and has risen 160.5 per cent in the last year.
 
The stock rose 12 per cent to hit an all-time high of Rs 156.10 on BSE on Thursday. It has been gaining for the last 3 days and has risen 19.02 per cent return during the same period.
 
With a market capitalisation of Rs 13,774.44 crore, the shares of the country's largest home textiles manufacturer stand higher than 5-day, 10-day, 20-day, 50-day, 100-day and 200-day moving averages.
 
Recently, the company said that it is looking to invest around Rs 800 crore in capacity expansion of its home textiles and flooring businesses over the next two years.
 
"Keeping in view the recent trend of customers focus to track the entire value chain i.e., 'Farm to Shelf', the board has approved an investment in 40 looms for towel fabric at Anjar which represents 7 per cent of installed capacity," said Welspun India in a late-night regulatory filing.
 
The company is expected to invest Rs 656.5 crore for the aforesaid expansion over FY22 and FY23. The benefits of these expansions will start accruing in phases from Q1 FY23 onwards.
 
Earlier this month, the firm received the USFDA nod for its 3 Ply Surgical Masks. "Welspun India Limited has now become the first Indian company to receive one of the stringent and most recognized quality approval i.e. US Food and Drug Administration (FDA) 510 (k) clearance for its 3 Ply Surgical Masks. Certified by BIS and CE already, this product from Welspun India Ltd has got all required certifications to supply to global markets including critical medical uses," the company said.
 
"Most textile companies are already seeing improved order books, fresh enquiries and increased wallet share with existing accounts. They believe that a positive outcome of the FTA talks will be a game-changer and would guarantee a level playing field for Indian textile companies in the EU and UK markets," Systematix said in a report.
 
According to MarketsMojo, the company has declared positive results for the last 3 consecutive quarters and institutional investors have increased their stake by 1.03% over the previous quarter and collectively hold 14.18% of the company.
 
The stock is trading at a discount compared to its average historical valuations and with a ROCE of 14.7, it has a Fair valuation with a 2.7 Enterprise value to Capital Employed.
 
Also, the technical trend has improved from Mildly Bullish on June 30, 2021, and has generated 58.99% returns since then. The stock is technically in a Bullish range and multiple factors for the stock are Bullish like MACD, Bollinger Band, KST and OBV.