Key Events This Week
2 Feb: Stock hits 52-week low at Rs.1,256.5
3 Feb: Intraday high of Rs.1,335 with 3.51% close gain
4 Feb: Continued upward momentum with 2.01% gain
5 Feb: Modest 0.44% rise despite Sensex dip
6 Feb: Week closes at Rs.1,354.15, +0.30% on day
Monday, 2 February 2026: 52-Week Low Amid Market Weakness
Havells India Ltd. opened the week under pressure, falling to a fresh 52-week low of Rs.1,256.5 on 2 February 2026. The stock closed at Rs.1,278.90, down 0.44% on the day, underperforming the Sensex which declined 1.03%. This marked the second consecutive session of decline, with the stock down 2.18% over these two days. The drop reflected broader sectoral challenges within Electronics & Appliances and a cautious market mood. Technical indicators showed the stock trading below all key moving averages, signalling sustained bearish momentum. The company’s recent quarterly results, showing an 8.7% decline in PAT to Rs.333.93 crore, and a reduced cash position, contributed to subdued investor sentiment.
Tuesday, 3 February 2026: Strong Intraday Rebound
On 3 February, Havells staged a significant recovery, surging 3.05% to close at Rs.1,317.85. The stock opened with a gap-up of 2.44% and hit an intraday high of Rs.1,335, a 4.39% rise from the previous close. This rebound came despite a volatile broader market where the Sensex fell 2.67%. The stock’s outperformance relative to the benchmark and sector highlighted selective buying interest. Technically, the close above the 5-day moving average suggested short-term strength, though the stock remained below longer-term averages. This session marked a potential short-term reversal after the prior decline.
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Wednesday, 4 February 2026: Continued Uptrend
The positive momentum extended into 4 February, with Havells closing at Rs.1,344.30, up 2.01%. This gain was achieved on relatively lower volume compared to the previous day but indicated sustained buying interest. The Sensex also advanced modestly by 0.37%, supporting a more favourable market environment. The stock’s rise brought it closer to medium-term resistance levels, though it remained below the 20-day and 50-day moving averages. The sector’s mixed performance and the company’s solid fundamentals, including a strong ROE of 16.9%, underpinned the price action.
Thursday, 5 February 2026: Modest Gains Despite Market Dip
On 5 February, Havells eked out a 0.44% gain to close at Rs.1,350.15, even as the Sensex declined 0.53%. The stock’s resilience amid a weaker market suggested selective accumulation. Volume was lower than earlier in the week, indicating cautious trading. The company’s valuation metrics, including a high Price to Book ratio of 9.2 and a PEG ratio of 6.3, continued to temper enthusiasm. Nonetheless, the stock’s ability to hold gains above Rs.1,340 was a positive technical sign.
Friday, 6 February 2026: Week Closes on Positive Note
Havells closed the week at Rs.1,354.15, up 0.30% on 6 February, marking the highest close of the week. The Sensex also gained 0.10%, ending at 36,730.20. The stock’s weekly gain of 5.42% significantly outperformed the Sensex’s 1.51% rise, reflecting a strong recovery from the early-week lows. Despite the positive weekly performance, the stock remains below several key moving averages, indicating that medium-term resistance and valuation concerns persist. Institutional holdings at 34.67% and a conservative debt profile provide some fundamental support.
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Daily Price Performance: Havells India Ltd. vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.1,278.90 | -0.44% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.1,317.85 | +3.05% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.1,344.30 | +2.01% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.1,350.15 | +0.44% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.1,354.15 | +0.30% | 36,730.20 | +0.10% |
Key Takeaways
Positive Signals: Havells India Ltd. rebounded strongly from a 52-week low early in the week, gaining 5.42% and outperforming the Sensex by nearly 4 percentage points. The intraday high of Rs.1,335 on 3 February and subsequent gains indicate short-term buying interest. The company’s robust ROE of 16.9% and low debt-to-equity ratio support its fundamental strength. Institutional holdings remain significant at 34.67%, reflecting confidence from large investors.
Cautionary Factors: Despite the weekly gains, the stock remains below key medium- and long-term moving averages, signalling resistance ahead. Valuation metrics such as a Price to Book ratio of 9.2 and PEG ratio of 6.3 suggest the stock is priced richly relative to earnings growth. The recent quarterly PAT decline of 8.7% and reduced cash reserves may weigh on near-term sentiment. The MarketsMOJO Mojo Grade remains at Sell with a score of 38.0, reflecting a cautious outlook.
Conclusion
Havells India Ltd. experienced a volatile but ultimately positive week, recovering from a 52-week low to close with a solid 5.42% gain. The stock’s outperformance relative to the Sensex highlights selective strength amid a mixed market backdrop. While short-term technical indicators show improvement, medium-term resistance and valuation concerns persist. Investors should weigh the company’s strong fundamentals and institutional backing against the cautious rating and recent earnings softness. The coming weeks will be critical to assess whether the stock can sustain this recovery and break through key resistance levels.
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