CARE has reaffirmed "CARE AAA" on Havells' long-term bank facilities and "CARE A1+" on the short-term bank facilities.
Shares of Havells India climbed over 3 percent intraday on October 15 after the company said rating agency CARE has reaffirmed the ratings assigned to its bank facilities.
CARE has reaffirmed "CARE AAA" on Havells' long-term bank facilities and "CARE A1+" on the short-term bank facilities, the company said in a regulatory filing.
The electrical equipment manufacturing firm has said it will release its September quarter earnings on October 23.
Brokerage ICICI Direct expects Havells to report a net profit at Rs 190.7 crore, up 6.8 percent year-on-year (YoY) and up 9.6 percent quarter-on-quarter (QoQ).
Net sales are expected to increase by 8.2 percent YoY - down 12.6 percent QoQ - to Rs 2,371.6 crore, according to ICICI Direct.Shares of Havells India traded 2.83 percent up at Rs 671.50 on BSE around 1210 hours.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.