Apr 12, 2013, 06.34 PM | Source: CNBC-TV18
Sahil Kapoor of Edelweiss RCM Research advises traders to enter in Havells India around Rs 630-640 with a stop loss below Rs 600 for the target price of Rs 690 to Rs 700.
Sahil Kapoor (more)
AVP- RCM Research, | Capital Expertise: Equity - Technical
Kapoor told CNBC-TV18, "Right now Havells India is trading at Rs 637. Its 200 DMA is placed at Rs 610 and every time we see a fall towards these levels there is a good buying that comes in. I think Havells is a stock which can rise to about Rs 690 to Rs 700 levels. There is a good double bottom pattern that we can see on Havells which has made a neckline of about Rs 630. So, Rs 630 to Rs 640 is a excellent level where one can enter and keep a stop below Rs 600 and look for targets of about Rs 690 to Rs 700 on Havells."
The company's trailing 12-month (TTM) EPS was at Rs 22.09 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 28.87. The latest book value of the company is Rs 128.90 per share. At current value, the price-to-book value of the company was 4.95. The dividend yield of the company was 1.02 percent.
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