COMPANY NAME-HAVELLS INDIA
12-MAR-2011.
RECOMMENDATION- SELL
PRICE TARGET - 300 CURRENT PRICE -348
COMPANY BASIC INFORMATION
|
ISIN Id
|
INE176B01026
|
|
BSE Id
|
517354
|
|
NSE Id
|
HAVELLS
|
|
INDUSTRY
|
Electric Equipment
|
|
Market Cap
|
4335.48
|
|
Book Value
|
91.06
|
|
EPS (TTM)
|
19.03
|
|
Price/Book
|
3.82
|
|
Face Value
|
5.00
|
|
P/E
|
18.26
|
|
Div(%)
|
75.00%
|
|
Industry P/E
|
64.90
|
|
P/C
|
16.62
|
|
Div Yield (%)
|
1.08
|
|
STOCK PRICE HISTORY( NSE)
|
|
All Time High
|
891.90
|
|
All Time Low
|
93.00
|
|
52 Week High
|
891.90
|
|
52 Week Low
|
290.00
|
Recommendation-
The stock is in an intermediate downtrend and has just completed its sharp minor
rally from 290 to 365 which is a strong resistance and has its 200 DMA . At
these levels the bears have once again taken control and are set to take the
stock lower. The extraordinary spike in the volumes and a Shooting star
candlestick are evidences that any up move in the stock for now Is done. We
suggest to initiate fresh
shorts in the stock around 355-360 with a stop above 380
for a very short term target of 310-300.