Stock Recommendations:
- Bajaj Electricals cut to ‘hold’ from ‘buy’ at price target set at Rs 1,180.
- Havells India raised to ‘buy’ from ‘hold’ at price target set at Rs 1,310.
- HDFC Life raised to ‘buy’ from ‘hold’ at price target set at Rs 650.
Havells India
Consumer, Paint Stocks Surge After Government Cuts GST Rate
Gold Silver Reports (GSR) – Asian Paints, Berger Paints, Relaxo Footwears, Bata India, Havells India and Procter & Gamble shares all climb to record high closing levels after the government cut goods and services tax rate.
GST panel on Saturday reduced goods and services tax on more than 50 products.
Havells India Gains On Tie Up With Hyundai Electric
Gold Silver Reports (GSR) – Havells India Gains On Tie Up With Hyundai Electric – Shares of the Noida-based electrical products maker rose as much as 2.11 percent to Rs 528 after it signed an agreement with Hyundai Electric for manufacturing magnetic contactors.