Outperform Havells India with a target of Rs 435: Credit Suisse

Credit Suisse has an outperform call on Havells India Ltd. with a target price of Rs 435 . The current market price of Havells India Ltd. is Rs 411.8 . The brokerage gave a year for Havells India Ltd. price to reach the defined target. The global investment bank sees a slowdown in revenue growth in the forthcoming quarters, but September quarter earnings were largely in line with estimates thanks to a boost from other income. The consumer durables business is likely to see robust growth, but the cable business dragged overall top line growth. A favourable mix and discontinuation of royalty are likely to keep the margins steady. Growth in the lighting segment as seen in the past has come down as LED growth normalise, the Credit Suisse report said.