Higher competitive intensity in LED panels impacted growth of the acquired Lloyd's business, which slipped into losses at the operating level
Stock recommendation by Religare Broking
Nifty outlook and stock recommendation by Sacchitanand Uttekar, DVP - Technical (Equity)
Growth moderates in cables, lighting; poor show in switchgear and Lloyd business
The company had logged a net profit of Rs 211.16 crore in the April-June period a year ago, according to a regulatory filing
The stock gained 6% to Rs 720, trading close to its all-time high level of Rs 729 touched September 3, 2018 in intra-day trade.
High raw material prices, weak rupee and lag effect to pass on increased costs weighs margins
Lloyd had a muted quarter owing to adverse season, channel inventory and forex headwinds
Strong show in core operations, traction in Lloyd's business can drive 20-25 per cent annual growth in earnings in next two years
In last three months, the stock outperformed the market and gained 17% against 1.5% rise in Sensex till Monday
The acquisition has been executed at an enterprise value of Rs 1,600 cr
Deal marks its entry into air-conditioners, washing machines space
Havells India, on the other hand, is trading 0.7% lower at Rs 423 levels
Transaction to take about 8 weeks to conclude; will mark former's entry into ACs, washing machines
Personal grooming market in India is estimated at Rs 1,500 crore and growing at rate of 25-30% a year
Plan to strengthen in five categories and double exports in 2-3 years
The stock had a strong run-up in past eight months, rose 53% as compared to 18% rise in Sensex till yesterday.
Expected to outperform peers across categories over 2-3 years
Company's net sales on standalone basis during the quarter under review was up 17.05% to Rs 1,455 crore
Promptec is into marketing and manufacturing of LED products including street, office and solar lighting