Havells India rose 3.13% to Rs 286.30 at 10:23 IST on BSE, extending yesterday's gains triggered by reports that a prominent domestic brokerage upgraded the stock to buy from neutral.
The stock rose 2.75% to Rs 277.60 yesterday, 18 June 2015. The stock has risen 5.98% in two sessions from Rs 270.15 on Wednesday, 17 June 2015.
Meanwhile, the BSE Sensex was up 213.10 points, or 0.79%, to 27,328.93.
On BSE, so far 36,000 shares were traded in the counter, compared with an average volume of 57,000 shares in the past two weeks.
The stock hit a high of Rs 287.65 and a low of Rs 277.35 so far during the day. The stock hit a 52-week high of Rs 346.15 on 10 December 2014. The stock hit a 52-week low of Rs 217.91 on 20 June 2014.
The large-cap company has equity capital of Rs 62.46 crore. Face value per share is Re 1.
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The brokerage reportedly said that Havells India has taken steps to leverage its brand, products, infrastructure and distribution over past 12 months. It also added that the commencement of trade factoring in Sylvania unit reduces cash conversion cycle.
Havells India's net profit dropped 11% to Rs 121.85 crore on 3% growth in net sales to Rs 1339.69 crore in Q4 March 2015 over Q4 March 2014.
Havells India is a leading fast moving electrical goods (FMEG) company with a strong global footprint.
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