Gujral told CNBC-TV18, "Today's sector seems to be the power equipment or power related stocks in the midcap. Havells India is a very strong stock. It generally tends to move sideways for long periods and then breaks out and gives you those big 15-20% type of moves."
He further added, "It has been moving in a very narrow range of Rs 500-550. Now it is slowly getting past Rs 550 and in case it catches some more steam and the market is supportive, we could see levels of Rs 620 in the short-term. But for the day one could see levels of Rs 575 coming on Havells."
Havells India has touched an intra day high of Rs 568.00 and an intra day low of Rs 556.10. At 13:43 hrs the share was quoting at Rs 558.55, up Rs 4.70, or 0.85%. Currently the share is 401.17% above the 52-week low of Rs 111.45.
