On the back of positive global cues, Indian stock markets got off to a strong start on Monday (September 23). As soon as the market opened, benchmark indices reached new tops.
In this market rally, a renowned brokerage firm has made consumer electronics company Havells (NSE: HAVELLS) a technical pick. The brokerage has selected the stock for 2-3 days.
Indian stock market got off to a strong start to the week on Monday. As soon as the market opened, Sensex-Nifty reached new record highs. Nifty crossed 25,900 for the first time and Sensex also crossed 84,800 for the first time.
Nifty Bank was on a slight rise. Midcap and smallcap indices were also showing strength. HDFC Life, Tata Steel, and Grasim were among the top gainers on Nifty. At the same time, Vodafone Idea was registering a gain of about 6%.
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Havells: A Huge Profit In 2-3 Days
The brokerage house has created Havells as a technical pick. Buying is recommended in the stock for the next 2-3 days. The target price is Rs 2150. On September 20, 2024, the stock closed at 2048.
In this manner, the stock could be expected to gain around 5-6 percent in the future.
Havells: Stock Jumped 10% In 1 Month
Trading started in the green mark in Havells on Monday in the stock market rally. In the initial session, the stock jumped about 2.5 percent to a new 52-week high.
The stock has jumped 10% in the last 1 month. At the same that the stock has delivered a return of 40 percent over 6 months, and 9 percent over three months.
The one-year return of the stock was 45 %, and it is now 50 % in 2024. The stock’s 52-week high on BSE is 2,098.95 and its low is 1,233.10. The market capitalization of the company is greater than Rs 1.28 lakh crore.
Quick Fact
| Company name | Havells |
|---|---|
| Technical pick for | 2-3 days |
| Recommended action | Buy |
| Possible target price | ₹2150 |
| Previous close price | ₹2048 (September 20, 2024) |
| Expected gain | 5-6% |
| 1-month stock jump | 9% |
| 3-month stock return | 9% |
| 6-month stock return | 40% |
| 1-year stock return (2024) | 50% |
| Market capitalization | More than ₹1.28 lakh crore |
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