Mumbai, Sept. 3 -- The target price implies an upside of 25% from the ruling market price. The stock hit an all-time high of Rs 2,676 in early trade today.

The brokerage said Welspun Corp is well positioned to benefit from a multi-year upcycle in oil and gas infrastructure spending in the US and the Middle East, supported by its local manufacturing presence in both regions.

It expects the company to deliver a 17% volume CAGR and 32-33% EBITDA and EPS CAGR over FY26-29E. The growth is expected to be driven by capacity expansion, a strong order book and an improving business mix.

The brokerage expects earnings growth to be supported by a 51% expansion in capacity across the US and Saudi Arabia, along with a rising contribution from the c...