This multi-bag textile stock has investors doubling their money in a year

Welspun Living Ltd has become one of investors’ favorites as the company’s shares have more than doubled their money in the past year. The mid-cap stock has recently attracted the attention of foreign institutional investors (FIIs) and onshore re-examination investors.

In the December quarter, the shareholding ratio held by foreign institutional investors increased from 6.33% to 7.25%. Notably, veteran investor Akash Bhansali has continued to increase his stock holdings every quarter since 2022.

Welspun Living Limited’s share price has soared nearly 120% in the past year.

The company has a market capitalization of over Rs 14,500 crore.The stock’s 52-week high is Rs 170.25 and its 52-week low is Rs.

62.20 per share on BSE.

The textile major has returned more than 125% over the past three years. Welspun Living Limited’s share price has risen nearly 4% in the past month.

Shares of Welspun Living surged over 14% to an intraday high of Rs 156.85 apiece on the BSE on Monday. However, the stock gave back some of its gains and closed 9.31 per cent higher at Rs 150.25 apiece, with the BSE maintaining its gains for the second day in a row.

Capital inflows from foreign institutional investors (FIIs) also continued to increase. Foreign institutional investors have steadily increased their stake in the company in recent months. Trendline data for the quarter ended December 2023 shows that FIIs/FPIs increased their stake in Welspun Living from 6.33% to 7.25%. The company’s promoters hold 70.50% shares while the public shareholding is 15.52%. Mutual funds hold 2.03% of the company’s shares.

Well-known investor Akash Bhansali holds 14,220,781 shares, accounting for 1.5% of the company’s shares. Bhansali’s total holdings are worth Rs 195.3 crore.

Welspun Living shares have delivered strong returns for investors over the past twelve months. The stock was priced at Rs 68.40 on January 27, 2023, and as of January 29, 2024, it has now crossed the Rs 150 level. This means that an investment of Rs 1 lakh in the company a year ago would turn into nearly Rs 2.2 lakh today.