Havells India shares fell 6 percent on Friday after the company reported margin pressure in the September quarter, while global brokerage Nomura cut its price target on the stock by over 9 percent.
The stock fell 5.96 percent to Rs 1,009.10 per share on the NSE.
Havells India, a major electrical and consumer durables maker, reported a 35 percent year-on-year growth in revenue in the second quarter of FY27, supported by growth across all categories.
Consumption demand remained steady despite inflation, while price hikes helped offset higher input costs across much of its portfolio.
However, operating margins declined by 30 basis points year-on-year, mainly due to volatility in aluminium and copper prices in the cables and wires (C&W) segment. Its Lloyd business also continued to face raw material inflation and seasonal under-absorption of costs.