Havells India share price, Havells India share price target: Havells India's shares on Tuesday, February 27, gained in the morning deals after Goldman Sachs double upgraded the stock of the fast-moving electrical goods (FMEG) manufacturer to 'buy' from 'neutral'. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The global brokerage has raised the target to Rs 1,660 from Rs 1,540 while highlighting that the Noida-based company is well placed for a revival in growth courtesy of its market leadership and increased distribution. The target translates to an upside potential of 16.46 per cent from the previous close.

Havells India shares gained by as much as Rs 3.92 per cent to clock a 52-week high of Rs 1,481.3 apiece on the BSE in early morning deals. At the said level, the stock was Rs 22.4 away from its all-time high of Rs 1,503.7 clocked on October 18, 2021.

Goldman Sachs highlighted the following key points behind the upgrade on Havells:

  • Building blocks for growth look better;
  • Strong cash flow and a dominant market position;
  • The company stands to benefit from tapping into new markets;
  • Havells will return to double-digit revenue growth (teens) from Q4;
  • Valuations to rerate and growth to revive;

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.