Buy Havells India, target price Rs 1535: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Havells India with a target price of Rs 1535. The current market price of Havells India Ltd. is Rs 1480.45.

Time period given by analyst is Intra Day when Havells India Ltd. price can reach defined target.

Havells India Ltd., incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 92642.75 Crore) operating in Consumer Durables sector.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 2644.17 Crore, down -21.67 % from last quarter Total Income of Rs 3375.87 Crore and up 74.47 % from last year same quarter Total Income of Rs 1515.56 Crore. Company reported net profit after tax of Rs 235.78 Crore in latest quarter.

Investment Rationale
Pole and flag breakout on weekly frame and making higher highs – higher lows from four sessions

Promoter/FII Holdings
Promoters held 59.47 per cent stake in the company as of 30-Jun-2021, while FIIs owned 24.01 per cent, DIIs 8.17 per cent.