Shares of Havells India fall as Nifty gains

Shares of Havells India fall as Nifty gains
ETMarkets.com
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Synopsis

On the technical charts, the 200-day moving average of the stock stood at Rs 1229.62.

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Nifty moved in a tight range of 82 points, and ended slightly below the psychologically crucial level of 15,700.
Shares of . slipped 1.45 per cent to Rs 1150.05 in Tuesday's trade as of 01:25PM (IST). It hit a high of Rs 1180.95 and low of Rs 1147.3 during the session.

The stock quoted a 52-week high price of Rs 1419.0 and a low of Rs 1037.8. The return on equity for the stock stood at 19.93 per cent. About 12,446 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 1.14.

The scrip has been an underperformer, down 16.14 per cent in the past one year in comparison with a 10.15 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 1037.8 on December 13, while the 50-DMA was at Rs 1237.12. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 59.45 per cent stake in Havells India Ltd. as of 30-Sep-2022. Mutual funds and foreign institutional investors held 4.21 per cent and 23.1 per cent stake.
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