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Sell Havells India at 
350: Aditya Birla Money
By siliconindia
|
Tuesday, 21 June 2011, 22:43 IST
Bangalore: Aditya Birla Money is pessimistic on Havells India and has recommended sell rating on the stock with a target of 
350. The stock rallied 30 percent in last three months outperforming the benchmark index by 28 per cent.
The traders/investors who have bought Havells India on break above the neckline now find themselves being trapped and going forward could possibly run for cover which could lead to aggravated sell-off. Sell Havells India initially below yesterday's low of 402 and then on rallies till 412 with a closing stop-loss of Rs 428 for a possible target of 350 levels, says Aditya Birla Money research report.
Havells India is one of the largest & India's fastest growing electrical and power distribution equipment manufacturer with products ranging from Industrial & Domestic Circuit Protection Switchgear, Cables & Wires, Motors, Water Heaters, Fans, Power Capacitors, CFL Lamps, Luminaires for Domestic, Commercial & Industrial applications and Modular Switches covering the entire gamut of household, commercial and industrial electrical needs. Havells owns some of the prestigious global brands like Crabtree, Sylvania, Concord, Luminance, Linolite, & SLI Lighting.
The Company has posted a net profit of 690.40 million for the quarter ended March 31, 2011 as compared to 657.70 million for the quarter ended March 31, 2010. Total Income has increased from 6818.10 million for the quarter ended March 31, 2010 to 8453.60 million for the quarter ended March 31, 2011.
350. The stock rallied 30 percent in last three months outperforming the benchmark index by 28 per cent.
The traders/investors who have bought Havells India on break above the neckline now find themselves being trapped and going forward could possibly run for cover which could lead to aggravated sell-off. Sell Havells India initially below yesterday's low of 402 and then on rallies till 412 with a closing stop-loss of Rs 428 for a possible target of 350 levels, says Aditya Birla Money research report.
Havells India is one of the largest & India's fastest growing electrical and power distribution equipment manufacturer with products ranging from Industrial & Domestic Circuit Protection Switchgear, Cables & Wires, Motors, Water Heaters, Fans, Power Capacitors, CFL Lamps, Luminaires for Domestic, Commercial & Industrial applications and Modular Switches covering the entire gamut of household, commercial and industrial electrical needs. Havells owns some of the prestigious global brands like Crabtree, Sylvania, Concord, Luminance, Linolite, & SLI Lighting.
The Company has posted a net profit of 690.40 million for the quarter ended March 31, 2011 as compared to 657.70 million for the quarter ended March 31, 2010. Total Income has increased from 6818.10 million for the quarter ended March 31, 2010 to 8453.60 million for the quarter ended March 31, 2011.
