FMEG Stock To Pay 300% Dividend Soon, ICICI Securities Sees Return, Suggests Buy

Large cap FMEG stock, Havells India Ltd today fixed January 28, 2023 as record date for interim dividend. The company will pay dividend on or before February 17, 2023. Meanwhile, brokerage firm, ICICI Securities has assigned buy call to Havells India with a target price of Rs 1550 apiece and a potential return of 29%. Check details below:

1. Havells India Ltd Sets Record Date For Dividend

According to the BSE filing of Havells India, "The Board of Directors has also declared an Interim Dividend of Rs. 3/- per Equity Share of Re. 1/- each i.e. @ 300% on the Equity Share Capital of the Company. The same shall be payable to all those Shareholders whose names appear in the Register of Members as on the Record Date i.e. 28.01.2023. The Dividend shall be paid/ dispatched to the shareholders on or before 30 days from the date of its declaration i.e. on or before 17th February, 2023."

2. Havells India Ltd Stock Performance & Return

The last trading price of the stock is Rs 1206.30 apiece with an intraday gain of 0.33%. The stock's 52-week high is Rs 1405.85 apiece and 52-week low is Rs 1037.80 apiece, respectively.

The company has a market capitalisation of Rs 75,575.87 crore. The stock has rallied 4% in last 1-month, declined 3% in last 3-months, and fell 8% in last 1-year. It has surged 89% in last 3-years.

3. ICICI Securities Gives Buy Call To Havells India

The brokerage firm has assigned buy rating to the stock with a target price of Rs 1550 apiece and a potential return of 29%.

According to ICICI Securities, "We model Havells to report a PAT CAGR of 21.4% and RoE to be upward of 17%, over FY22-FY24E. We remain positive on the company's business model due to strong moats and growth opportunities. Maintain BUY with a DCFbased target price of Rs1,550 (implied P/E 55x FY24E)."

4. About Havells India

Havells India Limited is a leading Fast Moving Electrical Goods (FMEG) Company and a major power distribution equipment manufacturer with a strong global presence.

Havells enjoys enviable market dominance across a wide spectrum of products, including Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Fans, Modular Switches, Home Appliances, Air Conditioners, Electric Water Heaters, Power Capacitors, Luminaires for Domestic, Commercial and Industrial Applications.

Disclaimer

The stock has been picked from the brokerage report of ICICI Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.