Havells at life time highs on MSCI India inclusion
DSIJ Intelligence / 13 May 2016
Havells India is trading at its life time high and gaining ground owing to the news reports of its MSCI inclusion. The stock made an intraday high at Rs. 366, up by almost 7 percent from Thursday's close.
Havells India is trading at its life time high and gaining ground owing to the news reports of its MSCI inclusion. The stock made an intraday high at Rs. 366, up by almost 7 percent from Thursday's close.
The other stocks that will be included in the MSCI index will be Bajaj Finance, Yes bank and Titan Company. All of the three stocks are trading flat to negative at 2:50 p.m. on Friday. The broader market is reeling under pressure and is down by almost 310 points at 25466. Under the prevailing market condition for the day when the BSE Sensex is down by almost 1.20 percent,the price movement and higher volumes in the Havells counter is being cheered by the investors.
MSCI, in its semi-annual index review, while adding the above mentioned 4 counters, deleted Reliance communications, Rural Electrification Corporation and United Breweries.
Havells India has been outperforming broader markets by delivering almost 26.22 percent returns over a 1 year period.