Stay away from consumer durable segment: Nirmal Jain

Nirmal Jain, Chairman at IIFL told CNBC-TV18, "I would be cautious on consumer durable segments because those stocks run up a lot much ahead of time, one. Secondly, they already had spare capacity so it is not that they have pricing power even if there is a demand revival. Finally, the demand revival also is little muted; it is not something which is already happening. So, Havells India and Bajaj Electrical's valuations are already rich and some of them have some other problems, so I would stay away from that sector."

At 12:19 hrs Havells India was quoting at Rs 265.30, up Rs 5.40, or 2.08 percent.

The share touched its 52-week high Rs 346.15 and 52-week low Rs 144.23 on 10 December, 2014 and 27 January, 2014, respectively.