Havells India: Recovery on track
Recommendation: Add; Target price: ₹1505
Source: indiainfoline.com
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Margins in Pune metro is minimal at 2% however expect it to improve to 8-10% in Ahmedabad and Pune.
Book to bill ratio on trailing 12m revenues continued to weaken for highway contractors (GR saw a rise due to 10% fall in 9M revenue).
BSE Midcap and Smallcap indices exhibited a notable increase, each rising by 1%.
Recommendation: Add; Target price: ₹1780