Shares of HPL Electric & Power Ltd skyrocketed 11% on 10 November after the company announced that the HPL Group and its promoters have reached a settlement deal with Havells India.

This settlement agreement resolves all outstanding disputes and litigations involving the use of the word/mark ‘HAVELLS’, including suits filed in various courts, including the Delhi High Court, and multiple special leave petitions (SLPs) filed in the Supreme Court.

The Delhi High Court referred these disputes to mediation, and a solution was achieved and executed on 8 November 2025.

As part of the settlement, the HPL Group agreed that Havells India and its promoters have had absolute rights to the ‘HAVELLS’ mark since 1971.

HPL Group has renounced all claims to the ‘HAVELLS’ trademark and has agreed not to use or contest it in any way.

In addition, the HPL Group has agreed to change the corporate names of its firms, Havell’s Private Limited and Havells Electronics Private Limited, to names that do not contain the word ‘HAVELLS.’

Havells India will pay a one-time full and final settlement of Rs 129.60 crore to the HPL Group.

HPL Electric & Power is India’s top and fastest-growing manufacturer of electrical and power distribution equipment, offering a wide range of goods, including industrial and home circuit protection switchgear, cables, energy-saving meters, and CFL and LED lighting.

At 1:21 pm, the shares of HPL Electric & Power were trading 7.48% higher at Rs 452.60 on NSE.

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