Havells India gains on CARE rating for the company's fixed deposit programme

Havells India rose 1.55% to Rs 902.80 at 10:58 IST on BSE after the company said that CARE has assigned a credit rating of CARE AA+ to the Fixed Deposit programme of the company.

The announcement was made on Tuesday, 8 April 2014. The stock market was closed on that day, on account of Ram Navami.

Meanwhile, the S&P BSE Sensex was up 80.17 points or 0.36% at 22,423.62.

On BSE, so far 5,919 shares were traded in the counter as against average daily volume of 31,823 shares in the past one quarter.

The stock hit a high of Rs 910.90 and a low of Rs 886.40 so far during the day. The stock had hit a record high of Rs 943 on 1 January 2014. The stock had hit a 52-week low of Rs 586 on 29 August 2013.

The stock had outperformed the market over the past one month till 7 April 2014, advancing 9.5% compared with the Sensex's 1.93% rise. The scrip had, however, underperformed the market in past one quarter, gaining 6.81% as against Sensex's 7.97% rise.

The large-cap company has equity capital of Rs 62.41 crore. Face value per share is Rs 5.

Havells India's net profit surged 28.3% to Rs 121.47 crore on 11.6% growth in net sales to Rs 1174.03 crore in Q3 December 2013 over Q3 December 2012.

Havells India is one of the largest electrical and power distribution equipment manufacturer, with products ranging from industrial and domestic circuit protection switchgear, cables & wires, motors, fans, power capacitors, CFL lamps, luminaires for domestic, commercial and industrial applications, modular switches, water heaters and domestic appliances covering the entire gamut of household, commercial and industrial electrical needs.

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