Havells India shares gain 0.74% as Sensex falls

Shares of Havells India Ltd. traded 0.74 per cent higher in Wednesday’s session at 10:05AM (IST). The stock opened at Rs 1388.25 and has touched an intraday high and low of Rs 1408.85 and Rs 1380.55, respectively, during the session so far.

The stock quoted a 52-week high of Rs 1466.0 and a 52-week low of 1092.0. About 8,005 shares changed hands on the counter so far.

Benchmark Nifty50 was down 134.95 points at 19393.8, while the BSE Sensex traded 460.57 points lower at 65051.53 at the time of writing of this report.

In the Nifty pack, 8 stocks traded the day in the green, while 42 were in the red.

Key Financials

For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 4898.64 crore, down 0.15 per cent from the previous quarter’s Rs 4905.92 crore and down 14.13 per cent from the year-ago quarter. The company reported net profit of Rs 287.07 crore for the latest quarter.

Promoter Holdings
Promoters held 59.43 per cent stake in the company as of 30-Jun-2023, while FIIs held 23.79 per cent and MFs 3.47 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 1259.86 on October 04, while the 50-DMA was at Rs 1350.5. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.

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