Havells jumps to record; Q1 profit beats estimates

Shares of Havells India jumped 9.6% to a record high of Rs 614. The lights and fans maker posted a 73% jump in June quarter net profit on Friday, beating analysts’ estimates.
Kotak Institutional Equities sees the company’s profitability improving, led by strong revenue growth recent weakness in commodity prices.
ICICI Securities raised target price to Rs 631 from Rs 621.

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