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Havells India Ltd., incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 81095.92 Crore) operating in Consumer Durables sector.

A year after the explosive Hindenburg report on Adani stocks, the controversy continues as Sebi is investigating violations of minimum public shareholding norms. The Supreme Court has directed Sebi to complete the investigation within 3 months. Adani stocks have partially recovered, but there is still a Rs 4.67 lakh crore loss in market capitalization. Adani Ports and Adani Power have performed well, while Adani Total Gas, Adani Energy Solutions, and Adani Wilmar have suffered losses.

The stock quoted a 52-week high of Rs 589.3 and a 52-week low of Rs 132.55.

The Nifty IT index was trading 1.35 per cent down at 36591.05.

A total of 537,461 shares changed hands on the counter till 10:46AM (IST).

Ashok Leyland Ltd, a company in the automobile space, has fallen over 10% from its August 2023 high. Chart patterns suggest further weakness. Short-to-medium-term traders can sell the stock for a target around 150 levels in the next 1-2 months. The stock closed at Rs 170.25 on 24 January 2024, down more than 10%. Short-term indicators indicate a bearish bias. If the auto index faces resistance, Ashok Leyland stock price could face additional pressure.

The stock traded at a P/E multiple of 39.24, while the price-to-book value ratio stood at 6.93.

Dipan Mehta, Director, Elixir Equities, cautions investors to be cautious in 2024 and maintain liquidity. He observes softening demand across sectors and the impact of the base effect on corporate earnings. The bull markets in 2024 will require skill and risk management, unlike the luck-driven gains of 2023. Investors will be tested on their research skills and conviction, as the year will be stock specific and tricky.