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Havells India (Emkay) 5% Earnings Cut, Maintain BUY |
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Standalone results below expectations owing to muted growth in Switchgear segment;Healthy operational performance for Sylvania with EBIDTA margins at 7.4% for Q1FY12, albeit no growth in revenues;Earnings fine tuned for FY12E by -5.5% to Rs 27.7/Share and for FY13E by -4.6% to Rs 33.1/Share | Date | Rating | Target Price | Recommendation Price | Broker house | | 2 Aug 2011 | buy | 450 | 360 | Emkay Report | |
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Havells India (Citi) Decelerating Revenue Growth and High Advertising Spend |
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1QFY12 PAT ~23% below estimates;India business revenue growth decelerated;Sylvania revenue stayed flat in 1QFY12;Sylvania margins dipped marginally;Overall a tad disappointing, slowdown more visible | Date | Rating | Target Price | Recommendation Price | Broker house | | 1 Aug 2011 | sell | 425 | 354 | Citi Report | |
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Havells India (UBS) Philips’ warning to be an overhang |
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Philips issues profit warning;Takeaways for Sylvania;Warning and continued weakness in Europe could be an overhang;Valuation: Buy rating, Rs510 price target | Date | Rating | Target Price | Recommendation Price | Broker house | | 24 Jun 2011 | buy | 510 | 381 | UBS Report | |
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Havells India (Citi) Philips Faces Weak Demand in European Lighting Business |
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Weak demand in lighting business in Europe;Phillips guides to low single-digit growth in lighting business in 2QCY11;European lighting market remains slow;Havells focusing on cash flows and profitability and not growth;Well positioned to benefit from construction and consumer spending in India; Remain cautious, awaiting more clarity on European situation | Date | Rating | Target Price | Recommendation Price | Broker house | | 23 Jun 2011 | sell | 425 | 380 | Citi Report | |
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Havells India (Citi) Initiate at Non-Consensus Sell: Shining Bright, But Expensive |
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Valuation call; target Rs425;Strong construction and consumer spending;…and wide dealer network and brand recall in a very competitive market;Global presence through Sylvania, but macro risks in Europe loom;EPS CAGR of 22%; Priced for perfection | Date | Rating | Target Price | Recommendation Price | Broker house | | 20 Jun 2011 | sell;(Initiation) | 425 | 431 | Citi Report | |
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Havells India (India Infoline) Electrifying gains |
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Tech reco | Date | Rating | Target Price | Recommendation Price | Broker house | | 7 Jun 2011 | buy | 510 | 427 | India Infoline Report | |
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Havells India (UBS) Wired for a brighter future |
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India Mid-Cap Premier League - Time to stock pick, again;Lighting (and fixtures), fans, and new products to drive rapid growth | Date | Rating | Target Price | Recommendation Price | Broker house | | 31 May 2011 | buy | 510 | 395 | UBS Report | |
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havells (CreditSuisse) In line quarter. Sylvania margin improvement on track |
| Date |
Rating |
Target Price |
Recommendation Price |
Broker house |
| 30 May 2011 |
outperform |
455 |
395 |
CreditSuisse Report |
Yahoo Link+NSE Link+Reuters Link+Reuters India Link+Google Link+DSR Search
Reports.DesiStockResearch.com |
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havells india (JPMorgan) Big FY11 earnings beat, increase price target to Rs600 |
Solid improvement in Sylvania margins; New products driving domestic business; FY11 beats estimates; Solid earnings growth, strong cash flow and capital return profile; increase PT to Rs600
| Date |
Rating |
Target Price |
Recommendation Price |
Broker house |
| 30 May 2011 |
overweight |
600 (From 480) |
396 |
JPMorgan Report |
Yahoo Link+NSE Link+Reuters Link+Reuters India Link+Google Link+DSR Search
Reports.DesiStockResearch.com |
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Havells India (credit suisse) In line quarter. Sylvania margin improvement on track |
| Date | Rating | Target Price | Recommendation Price | Broker house | | 30 May 2011 | out perform | 455 | 395 | credit suisse Report | |
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