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Buy Havells India; target of Rs 1545: ICICI Direct

Buy Havells India; target of Rs 1545: ICICI Direct
October 22
21:24 2021

ICICI Direct is bullish on Havells India has recommended buy rating on the stock with a target price of Rs 1545 in its research report dated October 21, 2021.

Broker Research

October 22, 2021 / 04:46 PM IST

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ICICI Direct’s research report on Havells India

Havells India (HIL) is India’s leading electrical appliances & equipment manufacturer with a diversified product portfolio consisting of switchgears, cables, electrical consumer durables and lighting & fixtures. Apart from ‘Havells’, HIL’s other major brands include Crabtree, Standard, Reo and Lloyd. At all its business segment, Havells has a strong presence in the organised product category with market share ranging between 6% and 20% Robust balance sheet with RoE & RoCE of 20% & 25%, respectively (fiveyear average), with stringent working capital policy

Outlook

We continue to remain positive and maintain BUY rating We introduce FY24 estimate and rollover our valuation on FY24E and value stock at Rs 1570/share i.e.53x P/E FY24E EPS

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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