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This article is more than 3 year old.

Jefferies starts Finolex, V Guard with "buy"; says bullish on sector

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Shares of Finolex, Havells, V Guard were down between 1.46 percent and 3.28 percent, while broader market was down on a weaker rupee.

Jefferies starts Finolex, V Guard with "buy"; says bullish on sector
Jefferies initiates coverage of Finolex Cables Ltd with a “buy” rating and price target of Rs 690, Havells India Ltd with “hold” and a price target of Rs 745 and V Guard Industries Ltd with a “buy” and price target of Rs 260.
Brokerage bullish on Indian electricals companies, says sector to benefit from nationwide Goods and Services Tax (GST) and required billing mechanism called E-Way Bill.
Key emerging trend among electricals is rapid diversification into durables and appliances, which helps de-risk their business models and optimize product mix, says Jefferies.
Price differential between branded and unbranded converges, foresee accelerated demand transition to organized players, it added.
Demand shift to organized segment, government’s thrust on housing and rural electrification, new product launches, and deeper penetration in rural regions are among key catalysts for electricals companies, Jefferies adds.
Shares of Finolex, Havells, V Guard were down between 1.46 percent and 3.28 percent, while broader market was down on a weaker rupee.
Eight out of 9 analysts covering Finolex rate the stock a “buy”, 11 of 19 have a “buy” rating on V Guard and 27 of 37 rate Havells “buy.”
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