Buy Havells India, target price Rs 1425.9: ICICI Direct

ICICI Direct has buy call on Havells India with a target price of Rs 1425.9. The current market price of Havells India is Rs 1406.35. Time period given by analyst is Intra Day when Havells India price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 1399.8.

Havells India, incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 88238.88 Crore) operating in Consumer Durables sector.

Havells India key Products/Revenue Segments include Cables, Service Revenue, Electrical Consumer Durables, Domestic Switchgears, Light Fittings & Fixture, Others, Export Incentives for the year ending 31-Mar-2023.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 4898.64 Crore, down -.15 % from last quarter Total Income of Rs 4905.92 Crore and up 14.13 % from last year same quarter Total Income of Rs 4292.05 Crore. Company has reported net profit after tax of Rs 287.07 Crore in latest quarter.

Investment Rationale
Price taking support at 13 day EMA suggesting pause before next leg of upmove.

Promoter/FII Holdings
Promoters held 59.43 per cent stake in the company as of 30-Jun-2023, while FIIs owned 23.79 per cent, DIIs 9.68 per cent.