Welspun mulls to acquire European textile firm

Terry towel and bedlinen maker Welspun India Ltd is spinning a new plan to ride the increasing rupee. On the heels of Rs 200 crore acquisition of towel brand Christy''s in the UK, Welspun is now looking at a small but strategic acquisition in Europe soon. Welspun is a supplier to high end brands in Europe and the deal will cover the firm''s manufacturing facilities as well.If the Chinese currency starts to appreciate, these companies would benefit, says Anand Tandon, Director, Gryffon Investment Advisors.