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Promoters held 50.0 per cent stake in the company as of 30-Jun-2021, while FII and DII ownership stood at 31.06 per cent and 4.89 per cent, respectively.

“Domestic cyclical would gain momentum as the Indian economy recovers into next quarter and the quarters beyond that.”

Havells Chairman and Managing Director said that an unabated increase in commodity costs had resulted in headwinds for margins in July-September.

A total of 376,584 shares changed hands on the counter till time (IST).

Kotak Mahindra Bank, Power Grid and Sun Pharma rose over 1 per cent. HCL Tech tanked 3.23 per cent to Rs 1,192.50. TechM, TCS and Infosys fell up to 1.8 per cent.

Havells India Ltd., incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 88102.05 Crore) operating in Consumer Durables sector.

On the technical charts, the RSI of the stock stood at 50.27.

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Promoters held 48.76 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 21.71 per cent and 9.28 per cent, respectively.

“We are very positive and we feel that in the next three to six months, the banking sector could regain leadership at the expense of technology or some of the other new generation stocks.”