Havells India shares rise on launching consumer durable brand in the Middle East

About new brand 

Havells India has launched ‘Lloyd’, its leading Consumer Durable brand in the Middle East Market. Lloyd’s focus in the Middle East encompasses a range of technologically advanced and energy-efficient products. The launch portfolio includes a premium range of ACs (Fixed speed, Inverter, and Hot & Cold), front-load and semi-automatic washing machines, frost-free and side-by-side refrigerators, and LED TV range. These offerings are meticulously designed to meet the diverse needs of consumers, seamlessly blending innovation with functionality.

Lloyd has partnered with TeknoDome, a distribution conglomerate headquartered in Dubai, for the desired coverage and reach in the Middle East region. This expansion marks a significant milestone for Havells, fortifying Lloyd’s presence beyond the confines of India.

About Havells 

Havells India Ltd. is a leading Fast Moving Electrical Goods (FMEG) company and major power distribution equipment manufacturer with a strong global presence. It offers a wide range of products, including Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Fans, Modular Switches, Home Appliances, Air Conditioners, Electric Water Heaters, Power Capacitors, and Luminaires for domestic, commercial, and industrial applications.

The company pioneered the concept of exclusive brand showrooms in the electrical industry with ‘Havells Galaxy’ and currently owns prestigious brands like Havells, Lloyd, Crabtree, and Standard. Havells India operates through various segments, including switchgears, lighting and fixtures, cables, and electrical consumer durables.

Stock Performance 

Havells India is currently trading at Rs 1,288.90, up by 8.35 points or 0.65% from its previous closing of Rs 1,280.55 on the BSE. The scrip opened at Rs 1,298.95 and has touched a high and low of Rs 1,298.95 and Rs 1285.05 respectively. So far 3894 shares have been traded on the counter.

The BSE group ‘A’ stock of face value of Rs 1 has touched a 52-week high of Rs 1,466 and a 52-week low of Rs 1,092. Last one week high and low of the scrip stood at Rs 1,314.95 and Rs 1,279.15, respectively. The current market cap of the company is Rs 80,702.22 crore. The promoters holding in the company stood at 59.43%, while Institutions and Non-Institutions held 33.67% and 6.90% respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.