Havells India gets ‘heated’

Given the overall bullish sentiment on the bourses, the market continues to react positively to Havells new foray news of yesterday.

Havells announced yesterday that it has forayed into the   water  heater  segment  with  the  launch  of  technologically  advanced  and  aesthetically  designed  range  of  “Water  Heaters”.  The  company  has  launched  five  variants  in  electric  water heater “Zoe & Zoe Prime”, “Ameo”, “Amazer” and “Lyft” with a capacity ranging from 1 ltr to 25  ltr.  

The water heater market in India is expected to be Rs. 1300 to 1200 crore and is growing at the rate of 12%.  This launch is under the umbrella of “Standard.”

The stock price rose almost 3% to Rs.540.20, clocking volumes of some 90,000 shares. Its 52-week high stands at Rs.564.30.