Havells India has decided to shift its switchgears production capacity from Guwahati (Assam) to its existing facilities at Baddi (Himachal Pradesh) in order to have benefits of synergy.
The announcement was made after market hours on Thursday, 1 October 2020. The stock exchanges were closed on Friday, 2 October 2020 on account of Gandhi Jayanti.Havells India's net profit tumbled 64% to Rs 63 crore on a 45% decline in net sales to Rs 1,479 crore in Q1 FY21 over Q1 FY20.
Havells India is a leading fast moving electrical goods company with presence across India. Its product range includes industrial & domestic circuit protection switchgear, cables & wires, motors, fans and power capacitors.
Shares of Havells India were up 0.54% to Rs 669.70 on BSE. The scrip has soared 49.75% from its 52-week low of Rs 447.20 hit on 20 May 2020.
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