Tag: Havells India

The Nifty index has been on a strong uptrend in the past three weeks, but it has recently retraced some of those gains. It is now expected to oscillate within the 19,605 to 19,878 range over the next few sessions. Three stocks that look good for buying over the next 2-3 weeks are Havells India, KSB, and Gujarat Ambuja Exports. All three stocks have strong bullish momentum and are trading above their key moving averages.

Jefferies believes that Havells is a strong franchise with good growth prospects, but the stock is currently fairly valued. The brokerage expects the company's revenue to grow at a CAGR of 13% over the next four years, driven by traction in infrastructure and real estate demand, new capex commissioning, and healthy growth in Lloyd. The brokerage also expects Havells' operating margin to improve to 10.5% by FY25e, driven by softening commodities and improving profitability in Lloyd. However, the brokerage believes that most of these positives are already priced into the stock, hence the "Hold" rating.