Welspun India shares fell 7.90 per cent to hit a low of Rs 131.05 on BSE. The stock is trading at 8 times two-year blended forward EV/Ebitda, which is well above its long-term average of 5.5 times.
On the domestic front, Welspun showed resilience during the quarter despite weak retail market sentiments, as a result of focus on continued expansion and also continued to be in positive margin space, Goenka added.
Stocks to watch today: The recent dip in the market indicates a healthy correction. Hero MotoCorp, Maruti Suzuki, Piramal Enterprises, Adani Green Energy, PowerGrid, IndiGo among stocks in focus
Hot stocks next week: Benchmark indices ended lower on Friday. The 30-share BSE Sensex slipped 259 points to 62979 and Nifty lost 105 points to 18,665. Adani Group, Tata Communications, Welspun India, SBI among stocks in focus next week.
Shares of Coforge would turn ex-dividend today. Coforge had announced an interim dividend of Rs 19 per share and the record date for the same is today. The dividend will be paid on May 26.