Havells India share drops on capacity expansion plan

Havells India Ltd.’s shares dropped 0.57% to Rs 1913.0 at 11:24 AM on Wednesday. The stock witnessed a gap-up start to the session earlier in the day.

Havells India was trading at Rs 1,928.00 at 09:23 a.m. on the BSE, up Rs 7.60, or 0.40 percent.

The company intends to increase the amount of cables it can produce from 32.90 lakh km to 41.20 lakh km.

The planned capacity would be increased slowly by March 2026 at a cost of about Rs 375 crore, including internal accruals.

A meeting of the company’s board of directors is set for July 18, 2024, to evaluate and approve the firm’s standalone and consolidated unaudited financial results for the first quarter ended June 30, 2024.

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