External broker reports(aggregated public sources), Axis Direct

Axis Direct

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

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

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

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

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><p><em>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.</em></p>

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