Indian stock market: The Nifty stayed below the psychological 22,500 mark, with call writers at the 22,500 strikes significantly increasing their positions. On the downside, support is expected to hold at 22,400. The buy-on-dips strategy is likely to persist as long as it remains above 22,400. On the upside, aRead More →
Shares of Havells India Limited surged by 4 percent, reaching a 52-week high of ₹1,482. This notable increase came after Goldman Sachs upgraded the rating for the wires and cables manufacturer from “neutral” to “buy.” Alongside the rating upgrade, the global brokerage also raised the price target for Havells toRead More →
The festive season is likely to have brought cheer to the consumer durables industry, paving the way for a good December quarter. “Festive demand is estimated to have grown in the range of 7-9% year-on-year,” noted Harshit Kapadia, an analyst at Elara Securities (India). This includes categories such as cablesRead More →
Havells India Ltd. put up a robust revenue performance in the quarter ended June (Q1FY24), but the same could not be said about its margin performance. The company’s standalone Ebitda (earnings before interest, tax, depreciation, and amortization) margin slipped 20 basis points year-on-year to 8.3%. The Lloyd segment has beenRead More →
LKP Securities has recommended a ‘buy’ on Havells India, with a target price of ₹1,453, representing a 12.7 per cent increase over the stock’s closing price of ₹1,289.05 on July 5. Shares of Havells India gained over 1.5 per cent to touch an intra day high of ₹1,293.65, setting 0.9Read More →
