We had recommended Havells India in volume no. 33, issue no. 42 (dated August 7, 2017) when the scrip was trading at Rs 487. Our recommendation was based on its performance in Q1FY18 and expansion of its clientele base through Lloyd. The company, after acquiring consumer durables business of Lloyd Electricals, has set a target of generating revenue of Rs 20,000 crore in the next five years, i.e. by FY22. It is in the process of restructuring the firm to reach this target. As the demand for housing and construction industry rises, Havells India will benefit from it. The company has positive prospects over the medium term. Hence, we recommend investors to HOLD the scrip at the current level.