Edelweiss is bullish on Havells India has recommended buy rating on the stock with a target price of Rs 575 in its research report dated May 11, 2017.
Edelweiss' research report on Havells India
A strong top line helped Havells India (HAVL) post double digit growth across most businesses, except lighting, in Q4FY17. However, EBITDA growth was lower due to promotional schemes to counter the demonetisation impact.
This, we believe, could be a key value driver given that Lloyds has one of the lowest margins, which under HAVL could see a material turnaround, driving significant share-holder value. We maintain ‘BUY/SO’.
For all recommendations, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.