Havells moves higher on foray into water heater segment

Havells India was up 2.86% to Rs 524.90 at 15:20 IST on BSE after the company announced its foray into water heater segment with the launch of technologically advanced and aesthetically designed range of water heaters.

The announcement was made during market hours today, 7 December 2017.

Meanwhile, the S&P BSE Sensex was up 354.82 points or 1.09% at 32,952.

On the BSE, 85,000 shares were traded on the counter so far as against average daily volumes of 94,788 shares in the past one quarter. The stock had hit a high of Rs 528 and a low of Rs 510.85 so far during the day. The stock had hit a record high of Rs 564.30 on 23 October 2017 and a 52-week low of Rs 310.50 on 27 December 2016.

The stock had outperformed the market over the past one month till 6 December 2017, advancing 2.37% compared with the Sensex's 3.36% fall. The stock had also outperformed the market over the past one quarter, gaining 3.67% as against the Sensex's 2.95% rise. The scrip had also outperformed the market over the past one year, advancing 53.68% as against the Sensex's 23.51% rise.

The large-cap company has equity capital of Rs 62.51 crore. Face value per share is Rs 1.

Havells India has launched five variants in electric water heater with a capacity ranging from 1 ltr to 25 ltr, in the price range of Rs 3,500 to 14,000. The new range of water heaters are being manufactured at the world's most modern plant in Neemrana, Rajasthan.

Havells India's net profit rose 17.3% to Rs 171.02 crore on 22.4% growth in net sales to Rs 1777.36 crore in Q2 September 2017 over Q2 September 2016.

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

Powered by Capital Market - Live News