HDFC Securities is bullish on Havells India has recommended buy rating on the stock with a target price of Rs 469 in its research report dated February 21, 2017.
HDFC Securities' research report on Havells India
Havells India (HAVL) has acquired Lloyd Electric’s consumer durable business (Lloyd Consumer) for an EV of Rs 16bn on a debt-free, cash-free basis. HAVL will acquire Lloyd’s intellectual property, manpower and distribution network.
The deal is expected to be completed by 31 Mar17. It is valued at 0.9x EV/revenue and 14.5x EV/EBITDA of FY17. We expect this deal to remain neutral for FY18, and 5% EPS accretive for FY19.
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First Published on Feb 22, 2017 06:07 pm