Rs 84 to Rs 940: This metal stock clocked multibagger returns in five years, can it cross Rs 1,000 mark?

Shares of metal major Welspun Corp delivered multibagger returns to investors in five years. The stock, which closed at Rs 84.3 on June 24, 2020 rose to a high of Rs 940 in the current session, giving 1,010% returns on BSE. The multibagger stock rose 338% in three years and 256% in two years. 

In the current session, Welspun Corp shares rose 3% to Rs 940 on BSE. Earlier, Welspun Corp stock opened higher at Rs 917.30 against the previous close of Rs 912.70. Market cap of Welspun Corp stood at Rs 25,670 crore on BSE. The stock hit a 52-week low of Rs 512 on June 25, 2024 and a record high of Rs 994.60 on June 10, 2025. 

Jigar S Patel of Anand Rathi Share and Stock Brokers said, "Support will be Rs 900 and resistance at Rs 940. A decisive move above the Rs 940 level may trigger a further upside of Rs 990. The expected trading range will be between Rs 890 and Rs 990 in the short term. 

Shitij Gandhi, Sr. Research analyst (Technicals), SMC Global Securities said, "The stock has been on a sustained winning streak, trending higher within a well-defined rising channel while consistently trading above its critical moving averages. The recent rally from the Rs 750 level to Rs 975 indicates strong fresh long buildup, reflecting bullish momentum. At present, the stock has once again broken above key resistance levels, confirming a breakout from a falling wedge pattern. The constructive price action, coupled with positive divergences in secondary oscillators, suggests an impending upward move toward the next key resistance at Rs 1020. On the downside, the Rs 900- Rs 880 zone is expected to act as a strong support level, providing a cushion against any corrective dips."  

Ravi Singh, SVP - Retail Research, Religare Broking said, "The stock witnessed a robust uptrend as price has given breakout from bull flag chart pattern but low volumes are still a concern. The stock gained more than 20% since May, 2025 and marked a fresh all time high of Rs 994 on June 10. The stock has witnessed a healthy correction of nearly 10% from its recent swing high and successfully retested the breakout zone, which previously acted as the resistance. This reversal has been accompanied by a substantial increase in trading volume since last week."

"Additionally, on the daily chart, prices are trading above the key moving averages of 20-day and 50-day EMAs, indicating a bullish undertone. Fresh long positions can be built near current market price at  Rs 930-940, with the potential upside targets of Rs 1080-1100, while risk can be managed with a stop loss at Rs 870,"  added Singh. 

Drumil Vithlani, Technical Research Analyst at Bonanza said, "Welspun Corp has witnessed a range breakout on the daily chart after eight sessions of consolidation between Rs 884 and Rs 924. The breakout comes near the stock’s 20-day EMA, adding further technical strength to the move. Structurally, the stock is forming a HH-HL pattern, a bullish indicator. Additionally, the RSI is moving higher indicating renewed buying momentum. The ADX remains firm, reinforcing trend strength. Looking ahead, a sustained trade above Rs 924 could push the stock toward Rs 975 in the near term. On the downside, Rs 884 will act as a strong support level, and the broader outlook remains constructive as long as this level holds."

Mandar Bhojane, Equity Research Analyst, Choice Broking said, "The stock is currently trading around Rs 934 and has recently given a breakout from a long consolidation range. After the breakout, the stock has retested the support zone and is now showing signs of a strong bullish reversal with heavy volumes. The price structure is forming a Higher High – Higher Low pattern, indicating a positive trend. A close above Rs 940 can trigger fresh momentum, with potential upside targets of Rs 1000 and Rs 1040. On the downside, Rs 900 will act as immediate support and any dip near this level can be seen as a buying opportunity.

From a technical perspective, the stock is taking support near its 20-day EMA and is trading comfortably above all key EMAs — 50, 100, and 200 — which indicates a strong bullish bias. Momentum indicators are also supporting the bullish view. RSI is currently at 59.62 and is trending upward, suggesting increasing buying strength. Additionally, the Stochastic RSI has given a positive crossover from the oversold region, which is a bullish signal for near-term momentum. For prudent risk management, a stop loss can be maintained at Rs 880."

AR Ramachandran, SEBI registered Independent analyst says, "Welspun Corp stock price is bullish on the daily charts with strong support at Rs 875. A daily close above resistance of Rs 938 could lead to a target of Rs 975 in the near term."

Welspun Corp clocked over 143 per cent rise in consolidated net profit to Rs 699.19 crore in the March quarter against a net profit of Rs 287.28 crore in the January-March period of the preceding financial year. Welspun Corp's income fell to Rs 3,966.86 crore in the fourth quarter of FY25, from Rs 4,543.70 crore in the same period a year ago. During the quarter under review, the company brought down its expenses to Rs 3,639.32 crore from Rs 4,292.37 crore in Q4 FY24.

Welspun Corp Limited is engaged in the business of manufacturing steel products and plastic products. The company is engaged in the business of production and coating of high-grade submerged arc welded pipes, hot rolled steel plates and coils. It is a service provider of welded line pipes, ductile iron pipes, stainless steel pipes, tubes and bars.