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.
Havells India Q4 Results: Consumer expenditure on electrical appliances tends to rise as temperatures increase and consumers prepare for warmer weather, leading to an uptick in spending on cooling products such as room air conditioning units, air coolers and fans.