Now Reading: Havells shares hit 52-week low, brokerages split on outlook
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Havells shares hit 52-week low, brokerages split on outlook
The Story in Brief
Havells India shares fell about 6 per cent on Friday (23 October 2026) to a 52-week low of Rs 1,002.80, a day after the company reported its Q2FY27 results. Consolidated net profit rose 9.72 per cent year-on-year to Rs 349.22 crore and revenue from operations grew 34.57 per cent to Rs 6,432 crore. However, Ebitda margin contracted to 8.9 per cent from 9.2 per cent a year earlier, and the cables and wires segment posted margin pressure from aluminium price movements.
Brokerages gave mixed views. Nuvama maintained a 'Buy' rating with a target price of Rs 1,430, while Goldman Sachs and Jefferies cut their target prices but kept buy ratings. Nirmal Bang maintained 'Hold' with a revised target of Rs 1,190. Motilal Oswal lowered Ebitda estimates for FY27 and FY28, citing continued margin pressure and higher losses at the Lloyd consumer business, which reported an Ebit loss of Rs 105 crore in the quarter. The management plans price hikes of 5 to 7 per cent in Q3 and retained a FY27 capex plan of Rs 1,400 crore.
Indian Opinion Analysis
Business Standard leads with the stock's intraday gain and brokerages that maintained positive ratings, giving less emphasis to margin pressure and Lloyd's losses. NDTV Profit notes target price cuts but retains buy ratings, mirroring a selectively positive framing. Livemint leads with the 52-week low and focuses squarely on margin pressures, cable competition and Lloyd as concerns, citing brokerages that cut estimates. The three sources report the same Q2 numbers but differ in emphasis: Business Standard and NDTV Profit highlight brokerages that still recommend the stock, while Livemint foregrounds the bearish case. The balanced reading is a stock that rose on results day before falling 6% the next day, with analyst ratings split between hold and buy but targets lowered. The next concrete items are Havells' planned Q3 price hikes of 5 to 7 per cent and its FY27 capex plan of Rs 1,400 crore.
Coverage: 3 sources, 3 neutral
Sources (3): business-standard.com (neutral report), ndtvprofit.com (neutral report), livemint.com (neutral report)
This brief was synthesised by AI from the 3 sources linked above, so one read covers every framing they carry. Methodology and corrections.
