Sell Havells India, target price Rs 1110: Yes Securities

Yes Securities has sell call on Havells India with a target price of Rs 1110. The current market price of Havells India Ltd. is Rs 1173.05. 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 73574.95 Crore) operating in Consumer Durables sector.

Havells India Ltd. key Products/Revenue Segments include Cables, Electrical Consumer Durables, Traded Goods, Domestic Switchgears, Light Fittings & Fixture, Others, Export Incentives for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 3713.05 Crore, up 13.50 % from last quarter Total Income of Rs 3271.33 Crore and up 15.52 % from last year same quarter Total Income of Rs 3214.24 Crore. Company reported net profit after tax of Rs 305.82 Crore in latest quarter.


Investment Rationale
The stock has turned downwards from the 200-DMA again and broken down from a bearish flag pattern suggesting weakness. The RSI has also turned south below the 40-level confirming the bearishness.

Promoter/FII Holdings
Promoters held 59.47 per cent stake in the company as of 31-Dec-2021, while FIIs owned 26.51 per cent, DIIs 6.26 per cent.