Avendus expects 34% upside on Indo Count shares, but cautious on Welspun Living

Shares of Indo Count Industries Ltd. and Welspun Living Ltd. on Tuesday, December 30, are reacting to brokerage Avendus' initiation on the home textiles stocks.

Avendus has initiated coverage with a "buy" rating on Indo Count with a target price of ₹348 per share, which implies a potential upside of 33.7% from its previous close.

On the flip side, Avendus has also

initiated coverage with a "reduce" rating on Welspun Living, with a price target of ₹135 apiece, which indicates an upside potential of 2.6% from its closing price on Monday.

Avendus in its note said macro developments such as tariff normalisation and progress of free trade agreements are key monitorables.

Indian textile players like Indo Count and Welspun Living have significant exposure to the US market, where the Trump administration has imposed a 50% tariffs on imports currently, with negotiations currently underway for a trade deal.

The Indian players are repositioning within the value chain through diversification, branding and expansion, Avendus wrote in its note.

Falling US imports reflect demand moderation and inventory rationalisation, Avendus said, adding that demand moderation could be cyclical rather than structural.

Here's a look at all the analyst recommendations on the two stocks:

Stock	Buy	Hold	Sell
Indo Count	6	2	0
Welspun Living	6	4	1

Shares of Indo Count Industries were trading 5.1% up at ₹273.55 apiece, while of Welspun Living were down 0.6% at ₹130.76 apiece around 10.35 am on Tuesday.

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