Indian Home Textiles report by Citigroup Smith Barney
Home Is Where the Growth Is!
- Welspun and Alok are our top picks in India’s Home Textiles, which has markedly lagged the Sensex despite strong growth prospects
- Alok upgraded to Buy from Hold on better EPS growth visibility after capacity expansion
- Sector earnings CAGR of 46% in FY06-08E and high ROEs should trigger overall re-rating
- Outsourcing trend, cost advantages, thrust on value-add, re-imposition of quotas on China and expanded capacity should feed sector growth
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