Shares of Havells India, an electrical equipment company, were buzzing in trade on Friday (September 8), driven by a favorable assessment from the brokerage company UBS.

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UBS pointed out that Havells is well-positioned for growth due to trends such as the increasing quality and scope of electrification in tier-II and tier-III towns, along with consumers' shift towards multi-format retail.

Havells' management also expressed their commitment to nurturing multiple brands and maintaining in-house manufacturing. They believe this approach not only enhances internal efficiency but also ensures product quality. Additionally, the company highlighted its strong focus on expanding exports.

The brokerage firm has endorsed the stock with a "buy" rating and set a target price of Rs 1,900.

In Friday’s trading session, Havells India's stock surged by 5.95 percent, closing at Rs 1,452 per share. Over a six-month period, the stock has seen a substantial 20 percent increase.

First Published:Sept 8, 2023 5:40 PM IST