Havells India jumps as 'LSE' calls

Havells India has been in the limelight since yesterday, when the stock hit a new 52-week high at Rs.854 and today too, it remains in the green. It hit an intra day high at Rs852 and currently remains 2% higher over yesterday’s close.

The stock is buzzing after the company announced that is plans to list its European subsidiary, Sylvania global on the London Stock Exchange (LSE). This listing is expected to help the company strengthen its brand in the European markets and also raise funds for acquiring brands or companies in Latin America and Europe.

The company makes lighting products, switchgears, cables, fans, modular switches and home appliances, and it has 14 factories in India and six globally. It owns brands including Crabtree, Sylvania, Concord and Standard. The company’s numbers do show the pressure in the economy as over 25% of its business comes from the industrial sector. Sylvania continues to do well  and has turned profitable and though Europe remains challenging, it expects this company to give a return of 7-8% on the operational level. The company is laying more stress on its domestic consumer business and over the next 4-5 years expects it to contribute around 15% to the topline.