External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

<ul><li>Robust Order Book Providing Revenue Visibility: WCL’s consolidated order book stands at a record high of ~Rs 23,500 Cr (as of Oct’25), offering clear revenue visibility for the next two years at US and for at least 1 year at ex-US operations.</li><li>The line pipe order book of ~1.3 mt is evenly distributed between India and the US (~600 kt each), while the Ductile Iron (DI) pipe order book stands at ~355 kt.</li><li>The US order book includes recent wins of ~$715 Mn, securing mill bookings until FY28, while the India order book is supported by strong export demand and upcoming water infrastructure projects.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Robust Order Book Providing Revenue Visibility: WCL’s consolidated order book stands at a record high of ~Rs 23,500 Cr (as of Oct’25), offering clear revenue visibility for the next two years at US and for at least 1 year at ex-US operations.The line pipe order book of ~1.3 mt is evenly distributed between India and the US (~600 kt each), while the Ductile Iron (DI) pipe order book stands at ~355 kt.The US order book includes recent wins of ~$715 Mn, securing mill bookings until FY28, while the India order book is supported by strong export demand and upcoming water infrastructure projects.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Punch: Welspun Corp - 9 Th December, 2025

Thematic (Sector/Industry)

<ul><li>Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.</li><li>Axis Intellect (AI) Score based Investment Approach for Stock Selection applies unique approach to deliver alpha by applying equal exposure to ‘Core’ and ‘Satellite’ factors.</li><li>What are ‘Core’ Factors’: Low Volatility, Value, Growth, Quality, Momentum (Equal weighted 50% exposure) </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.Axis Intellect (AI) Score based Investment Approach for Stock Selection applies unique approach to deliver alpha by applying equal exposure to ‘Core’ and ‘Satellite’ factors.What are ‘Core’ Factors’: Low Volatility, Value, Growth, Quality, Momentum (Equal weighted 50% exposure) Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Welspun Corporation Ltd. is a one-stop service provider offering pipe solutions with a capability to manufacture line pipes, along with specialized coating, double jointing and bending. Welspun supplies pipe to most of the Fortune 100 Oil & Gas companies.

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Welspun Corp (WLCO IN)

Axis Punch: Welspun Corp - 9 Th December, 2025

WCL’s consolidated order book stands at a record high of ~Rs 23,500 Cr (as of Oct’25), offering clear revenue visibility for the next two years at...

Axis Direct

Axis Intellect - Aggressive

Stock investment endeavours to deliver consistent outperformance in the long term by making a diversified investment of ‘Winners’.

Axis Direct

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