Havells India has target of Rs 567.50: Joshi

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Havells India has target of Rs 567.50, says Sharmila Joshi , Co-Head PCG Sales, Emkay Global Financial Services.

Joshi told CNBC-TV18, "Havells India is a pretty well known company in the low voltage electrical equipment space, doing very well. On the standalone basis, they have given very stellar set of numbers in the December quarter. The slight drag for this company has been the Sylvania buy but there are moves on that front too to restructure it and get things back on track."

She further added, "They are continuously in the model of acquiring businesses, trying to maximize something else which works well for them and their product line keeps on increasing. They are also talking of getting into making a retail foray by having these shops, which offer one stop solution to all electrical requirements, so a great business and doing very well. Buy with a target of Rs 567.5."

At 15:06 hrs the share was quoting at Rs 560.80, up Rs 16.55, or 3.04% with volumes of 716,562 shares. Yesterday the share closed up 0.20% or Rs 1.10 at Rs 544.25.

The company's trailing 12-month (TTM) EPS was at Rs 35.10 per share. The stock's price-to-earnings (P/E) ratio was 15.98. The latest book value of the company is Rs 154.88 per share. At current value, the price-to-book value of the company was 3.62. The dividend yield of the company was 0.45%.