Multibagger FMEG Stock To Pay Dividend In Jan, Record Date Set: Buy For 30% Gain

Large cap company operating in Consumer Durables sector, Havells India Ltd has fixed January 28 as the record date to pay interim dividend. The company has a market capitalisation of Rs 74,720.68 crore. Meanwhile, leading brokerage firm ICICI Securities has assigned buy call to the stock with a target price of Rs 1550 apiece. If you buy Havells India now, you will get 30% return. Check key details below:

1. Havells India Reveals Record Date To Pay Interim Dividend

The board of directors of the company said in the BSE filing, "Havells India Ltd has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 19/01/2023, inter alia, to consider and approve (1) the Standalone and Consolidated Un-Audited Financial Results of the Company for the third quarter and nine months ended 31st December, 2022. (2) payment of Interim Dividend to the shareholders of the Company. The company has fixed January 28, 2023 as the record date for interim dividend."

2. Havells India Stock Performance

The stock's last trading price is Rs 1192 with an intraday gain of over 2%. Its 52-week high is quoted at Rs 1418 and 52-week low is 1037 apiece, respectively.

3. Havells India Return

The stock has given 110% return in last 5-years, 84% return in last 3-years, and declined 13% in last 1-year. It has fallen over 11% in last 3-months.

Havells India Dividend History

The stock has a good dividend history and declared dividends regularly for the last 5-years. It has announced an equity dividend of 750% or Rs 7.5 per share for the year ending March 2022. If the current market price of Rs 1192 is taken into consideration, it has a dividend yield of 0.63%.

5. Valuation

According to ICICI Securities, "We model Havells to report a PAT CAGR of 21.4% and RoE to be upward of 17%, over FY22-FY24E. We remain positive on the company's business model due to strong moats and growth opportunities. Maintain BUY with a DCFbased target price of Rs1,550 (implied P/E 55x FY24E)."

6. About Havells India

Havells India Limited is a leading Fast Moving Electrical Goods (FMEG) Company and a major power distribution equipment manufacturer with a strong global presence.

Havells enjoys enviable market dominance across a wide spectrum of products, including Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Fans, Modular Switches, Home Appliances, Air Conditioners, Electric Water Heaters, Power Capacitors, Luminaires for Domestic, Commercial and Industrial Applications.

Disclaimer

The stock has been picked from the brokerage report of ICICI Securities. 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 check with certified experts before taking any investment decision.