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Last Updated : Feb 22, 2017 06:07 PM IST | Source: Moneycontrol.com

Buy Havells India; target of Rs 469: HDFC Securities

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.

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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