Motilal Oswal downgraded FMEG firm Havells India to neutral from buy due to expensive valuations, but still sees a 7% upside to ₹1,780 post Q4FY24 results. Stock surged 41% from 52-week low, showing volatility in 2024 with positive returns in 2 of 4 months.
Goldman Sachs has also raised the price target for Havells to ₹1,660 from ₹1,540, indicating an upside potential of 17 percent from the previous session s closing price.