Brokerages reiterate ratings on Havells India despite appliance maker clocking over 40% profit

Global brokerage firms have reiterated their rating despite home appliance maker, Havells India's net profit rising 42 per cent at 407.51 crore in during the June 2024 quarter or Q1 FY25 earnings.

Here is what the brokerages make of Havells India.

Three brokerages, JPMorgan, Citi, and Nomura have maintained a 'neutral' rating on Havells India shares with targets of Rs 1,780, Rs 2,000, and Rs 1,899, respectively.

Jefferies has maintained a 'hold' call on the Havells stock with a target of Rs 1,880.

Morgan Stanley and Macquarie are positive on home appliance makers with different ratings.

Morgan Stanley has maintained an 'overweight' rating on Havells with a target of Rs 1,826.

Macquarie, on the other side, maintained an 'outperform' rating on the stock with a target of Rs 1,501.

HSBC has maintained 'buy' call on Havells with a target of Rs 2,070.