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| Havells India slips after muted Q3FY20 results |
Shares of Havells India slipped 1% in the morning trade on the BSE. The company posted a 2.8% growth in net profit to Rs201cr in the quarter ended December 2019, as against Rs195.7cr in the corresponding quarter last year.
Net sales of the company fell by 10% yoy to Rs2,273cr in Q3FY20 vs. Q3FY19.
Anil Rai Gupta, Chairman and Managing Director, said that the slowdown in industrial products impacted the company's sales while the consumer segment remained stable.
Stock view:
Havells India Ltd is currently trading at Rs612.75, down by Rs4.15 or 0.67% from its previous closing of Rs616.90 on the BSE.
The scrip opened at Rs595 and has touched a high and low of Rs617.80 and Rs588.50 respectively.
Net sales of the company fell by 10% yoy to Rs2,273cr in Q3FY20 vs. Q3FY19.
Anil Rai Gupta, Chairman and Managing Director, said that the slowdown in industrial products impacted the company's sales while the consumer segment remained stable.
Stock view:
Havells India Ltd is currently trading at Rs612.75, down by Rs4.15 or 0.67% from its previous closing of Rs616.90 on the BSE.
The scrip opened at Rs595 and has touched a high and low of Rs617.80 and Rs588.50 respectively.
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