On 29-10-2024, Havells India saw a share price decrease of -0.53% from its previous closing price. The stock opened at ₹1670.15 and closed at ₹1659.95. During the trading session, it reached a high of ₹1683.55 and a low of ₹1647.30, illustrating some volatility in the market.
| Table of Contents |
|---|
| Technical Analysis |
| Fundamental Analysis |
| Ownership Overview |
| Market Performance Comparison |
| Conclusion |
Technical Analysis
Technical analysis indicates that Havells India is currently trading below both short-term and long-term moving averages. Key resistance levels on a daily timeframe are identified at ₹1698.27, ₹1721.53, and ₹1740.32. Meanwhile, key support levels are found at ₹1656.22, ₹1637.43, and ₹1614.17. The trading volume for Havells India on both the NSE and BSE was substantially higher, showing an increase of 82.18% compared to the previous session, which may indicate potential trends in price movement.
Fundamental Analysis
On a fundamental level, Havells India reported a Return on Equity (ROE) of 18.06% and a Return on Assets (ROA) of 10.77%. The stock’s price-to-earnings ratio (P/E) stands at 74.23, and the price-to-book ratio (P/B) is at 13.42. Analysts have forecasted a median one-year upside potential of 17.11%, suggesting a target price of ₹1944.00 for the stock, which presents an appealing investment opportunity.
Ownership Overview
As of the September quarter, Havells India’s ownership composition revealed 0.00% promoter holding, 4.32% Mutual Fund (MF) holding, and 24.76% Foreign Institutional Investor (FII) holding. Notably, the MF holding has increased from 4.13% in the June quarter, whereas the FII holding has experienced a slight decline from 25.33% during the same period, indicating shifting investor sentiments.
Market Performance Comparison
On the same day, the broader market showed mixed performance, with both the Nifty and Sensex indices declining -0.39% and -0.34% respectively. Havells India’s decline was relatively moderate within this context, but it reflects the overall market trends that impacted many stocks among its peers in the sector.
Conclusion
In summary, Havells India experienced a share price decline of -0.53% on 29-10-2024, yet analysts project a promising 17.11% upside over the next year. The technical and fundamental analyses highlight key resistance and support levels while providing insights into the company’s financial health and investor activity. The impact of broader market trends on the stock’s performance also cannot be overlooked.
FAQ
- What factors contributed to the decline in Havells India’s stock price?
The decline can be attributed to overall market trends, as both Nifty and Sensex indices were down on the same day, which often affects individual stock performances.
- What is Havells India’s potential target price according to analysts?
Analysts forecast a target price of ₹1944.00, indicating a potential upside of 17.11% over the next year.
- How does the ownership structure affect stock performance?
The ownership structure, including promoter, mutual fund, and FII holdings, can influence stock performance by reflecting investor confidence and sentiment in the company.
