Havells India gains on stock split plan

Havells India rose 1.68% to Rs 1,122 at 9:44 IST on BSE as the company plans stock split.

Meanwhile, the BSE Sensex was up 264.40 points, or 1.06%, to 25,295.72.

On BSE, so far 4,220 shares were traded in the counter, compared with an average volume of 42,456 shares in the past one quarter.

The stock hit a high of Rs 1,122.80 and a low of Rs 1,111 so far during the day. The stock hit a record high of Rs 1,242.05 on 16 June 2014. The stock hit a 52-week low of Rs 586 on 29 August 2013.

The stock had outperformed the market over the past one month till 23 June 2014, rising 17.87% compared with 1.37% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 27.88% as against Sensex's 15.06% rise.

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

Havells India announced during market hours on Monday, 23 June 2014, that its board of directors will meet on 30 June 2014, to consider stock-split.

On Monday, 23 June 2014, shares of Havells India jumped as much as 3.41% in the intraday after the company announced its plan for stock split. However, the stock pared gains in late trade and ended almost flat at Rs 1,103.45.

Havells India's net profit rose 24.8% to Rs 136.92 crore on 11.9% growth in net sales to Rs 1300.09 crore in Q4 March 2014 over Q4 March 2013.

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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