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25.09 - 19:45
For Havells, better demand prospects may aid its FY24 outlook
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₹61 crore versus loss of ₹56 crore in the same period last year. Thus, a turnaround here is crucial.
For now, investors seem to be factoring in the brighter picture adequately. Shares of Havells have surged by nearly 29% in 2023 so far, sharply outperforming the 10% gain in the Nifty 50 index.
“The Havells stock is pricing in all the positives, and we do not see any significant near-term upside," said Sahay. Moreover, it does not help that the valuation is expensive.
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