Havells India Ltd.’s share price experienced a 2% boost on March 6, following the announcement of its plans to expand its product offerings to include kitchen appliances such as cooktops, hobs, chimneys, and other built-in appliances, on March 5.

By capitalising on the synergies of its existing range of small domestic appliances, Havells India aims to become one of the top three market players within the next three years.

The new line of products will be fully outsourced and cater exclusively to the domestic market, with a targeted launch date of May 2024.

Havells India’s impressive financial performance for the quarter ended December includes a 1.54 % increase in net profit to Rs 287.91 crore and a 6.93 % year-on-year (YoY) rise in consolidated revenue from operations to Rs 4,413.86 crore.

However, during the afternoon hours, Havells India Ltd.’s shares lost all their early gains, and at 2:57 pm, shares of Havells India were trading 1.37% lower at Rs 1,519.00 on NSE.