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Buy Havells India, target Rs 645: Motilal Oswal Securities

Buy Havells India Ltd. at a price target of Rs 645.0 .

Last Updated: Jul 24, 2018, 02.38 PM IST
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Havells India
The current market price of Havells India is Rs 601.20.
Motilal Oswal Securities has a buy call on Havells India with a target price of Rs 645.

The current market price of Havells India is Rs 601.20.

Time period given by the brokerage is one year when Havells India price can reach the defined target.

"We believe HAVL has built a strong business franchise, given its (a) successful development of brand, distribution and product portfolio, (b) demonstrated track record of accelerating growth via new launches, (c) healthy dividend payout and (d) robust return ratios. Maintain Buy and TP of Rs 645, with exit multiple of 38x Mar’20E EPS (10% premium to five-year average)," Motilal Oswal Securities said in a report.

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