Neutral on Havells India, target price Rs 850: Motilal Oswal

Motilal Oswal has neutral call on Havells India with a target price of Rs 850. The current market price of Havells India Ltd. is Rs 890.55.

Havells India Ltd., incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 55636.91 Crore) operating in Consumer Durables sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2459.49 Crore, up 65.80 % from last quarter Sales of Rs 1483.40 Crore and up 10.16 % from last year same quarter Sales of Rs 2232.65 Crore Company reported net profit after tax of Rs 326.36 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 59.5 per cent stake in the company as of June 30, 2020 while FIIs held 22 per cent, DIIs 9.9 per cent and public and others 8.7 per cent.