Havells India shares down 0.6% as Nifty drops

Havells India shares down 0.6% as Nifty drops
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Synopsis

A total of 2,639 shares changed hands on the counter till 10:51AM (IST).

A man walks past the Bombay Stock Exchange (BSE) building in MumbaiReuters
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NEW DELHI: Shares of . traded 0.6 per cent down in Wednesday's trade at 10:51AM (IST). Around 2,639 shares changed hands on the counter.

The scrip opened at Rs 1185.05 and touched an intraday high and low of Rs 1195.2 and Rs 1182.05, respectively, in the session so far. Shares of the company of Havells India Ltd. quoted a 52-week high of Rs 1405.85 and a 52-week low of Rs 1037.8.

Total market cap of the Havells India Ltd. stood at Rs 74338.51 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 4167.21 crore for the quarter ended 31-Dec-2022, up 11.92 per cent from previous quarter's Rs 3723.26 crore and up 12.23 per cent from the year-ago quarter's Rs 3713.05 crore.

The net profit for latest quarter stood at Rs 283.52 crore, down 7.29 per cent from the corresponding quarter last year.

Shareholding pattern
As of 31-Dec-2022, domestic institutional investors held 3.98 per cent stake in the company, while foreign institutional investors held 22.6 per cent and the promoters 59.45 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 69.72 and a price-to-book ratio of 12.04. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Havells India Ltd. belongs to the Electronics/Electricals industry.
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