Havells India drops on profit booking after declaring good Q3 result

Havells India fell 2.06% to Rs 373.50 at 14:16 IST on BSE on profit booking after the company declared good Q3 December 2016 result during market hours today, 17 January 2017.

Meanwhile, the BSE Sensex was down 72.59 points, or 0.27%, to 27,215.58

On BSE, so far 3.71 lakh shares were traded in the counter, compared with an average daily volume of 1.40 lakh shares in the past one quarter. The stock turned volatile after announcing Q3 result. The stock hit a high of Rs 386.80 and a low of Rs 371.25 so far during the day.

The stock hit a record high of Rs 459.80 on 6 October 2016. The stock hit a 52-week low of Rs 259 on 12 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 18.23% compared with the 3.01% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 11.55% as against Sensex's 2.72% decline.

The large-cap company has an equity capital of Rs 62.49 crore. Face value per share is Re 1.

Shares of Havells India had seen pre-result upmove. The stock had gained 4.72% in the preceding two trading sessions to settle at Rs 381.35 yesterday, 16 January 2017, from its close of Rs 364.15 on 12 January 2017.

Havells India's net profit rose 27.55% to Rs 152.97 crore on 14.08% rise in total income to Rs 1648.47 crore in Q3 December 2016 over Q3 December 2015. The result announcement was made during market hours today, 17 January 2017.

Havells India is a fast moving electrical goods (FMEG) manufacturer, producing a wide range of industrial and consumer electrical products.

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