Hold Havells India, says Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "I would recommend a hold Havells India. The numbers were definitely disappointing, but I think we need to factor in the impact that Lloyd has had. The acquisition of Lloyd AC division has had on the numbers overall. Both in terms of earnings before interest, taxes, depreciation and amortisation (EBITDA) as well as in terms of total profitability, a revenue of course has had a positive impact. So I would hold my belief that both these segments, the electrical as well as the new acquired division would contribute positively going forward."

"In terms of pure valuations at current levels, it is around four times enterprise value to sales which is reasonably, it is attractive based on the type of brand equity that the company has built up. So I would recommend a hold. I see a price of about Rs 515 in the medium-term. Of course, a stoploss of Rs 450 which is close to the current levels," she said.