Havells falls over 2% after CLSA recommends sell with target of Rs 525
Electrical equipments maker Havells India shares fell more than 2 percent intraday Wednesday after global brokerage house CLSA recommended selling the stock with a target price of Rs 525 per share.
Company is focus is now on expanding its product offering & distribution reach and backward integration will continue to remain company’s strength, the research house said.
Lloyds acquisition provides access to fast growing market, it added.
At 14:49 hours IST, the stock price was quoting at Rs 533.90, down 2.35 percent on the BSE.