Buy Large Cap Consumer Discretionary Stock, Target Price Rs 1,553: Keynote Capitals

Leading brokerage firm Keynote Capitals Initiates a Buy call on Havells India Limited (HAVL) with a Target Price of Rs 1,553 apiece. According to the given target price, the stock is likely to give a decent return of 19% if purchased at the current market price.

HAVL is a large cap Consumer Discretionary sector company. It has a market valuation of Rs 82,010.12 Crore.

View and Valuation

According to Keynote Capitals, HAVL has multiple organic and inorganic levers to continue its growth momentum while improving profitability. Margins were subdued in FY23 owing to multiple headwinds. "Given the growth and profitability outlook, we initiate coverage on Havells India Ltd. with a BUY rating and a target price of Rs. 1,553, valuing HAVL at 60x FY24E EPS," the brokerage has said.

Stock Outlook - Current Market Capice, 52-Week Low/High, Returns

The stock of HAVL last tarded at Rs 1309, up 1.55% as compared to its previous close of Rs 1289.05 apiece on BSE. It traded its 52-week high at Rs 1405.85 apiece and its 52-week low at Rs 1092 apiece on BSE.

The stock surged 1.50% in the past 1 week, while in the past 1 month, it declined 2.09%. It jumped 9.35% in the past 1 year. In the past 2 years, it jumped 28.24%. It jumped 124.66% in the past 3 years. In 5 years, it jumped 138.24% in the past 5 years.

About - Havells India Limited (HAVL)

Havells India Limited (HAVL) is a leading consumer electrical and appliance company. HAVL offers various products such as switchgear, lighting & luminaires, Cables & Wires (C&W), fans, home appliances, air conditioners, washing machines, and electric water heaters. The Company manufactures ~90% of its products in-house in its 15 nationwide manufacturing units. Besides its flagship brand 'Havells,' the Company's other major brands include Crabtree, Standard, REO, and Lloyd. The Company has a vast distribution network of 17,000+ direct dealers and 2,20,000+ retailers as of FY23. HAVL has multiple organic and inorganic levers to continue its growth momentum while improving profitability.

Disclaimer - The stock has been picked from the brokerage report of Keynote Capitals. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.