PL Capital maintained an overall ‘Overweight’ rating on the consumer durables sector. While the brokerage has issued ratings and target prices for key stocks. 
PL Capital maintained an overall ‘Overweight’ rating on the consumer durables sector. While the brokerage has issued ratings and target prices for key stocks. An interaction with 31 Room Air Conditioner (RAC) dealers across states by PL Capital revealed that the consumer durables sector is grappling with the combined impact of unseasonal rains, erratic weather, and price hikes.
According to a June 2026 sector update by PL Capital, RAC demand witnessed a temporary uptick from mid-April to early May as peak summer conditions drove inventory liquidation.
However, the brokerage said it reported a weaker-than-expected summer season. “Demand was moderately impacted by unseasonal rains in a few regions, lower temperatures, and weak consumer spending,” it said.
PL Capital noted that the industry implemented price hikes ranging from 5-12%, ranging to an increase of Rs 2,000 to Rs 5,000 per unit during the March-April period.
“Dealers indicated that LG, Samsung and Daikin implemented relatively higher price hikes of 10-11%, while Blue Star and Voltas undertook comparatively lower increases of 6-8% on average,” PL Capital said.
Target price & ratings
PL Capital maintained an overall ‘Overweight’ rating on the consumer durables sector. While the brokerage has issued ratings and target prices for key stocks.
The brokerage has recommended a ‘Buy’ on Polycab India Ltd with a target price of Rs 10,282. The brokerage has a ‘Buy’ call on R R Kabel Ltd with a target price of Rs 1,964 and Cello World Ltd also has a ‘Buy’ call with a target price of Rs 489.
PL Capital has assigned an ‘Accumulate’ rating to electrical heavyweights Havells India Ltd with a target price of Rs 1,505 and KEI Industries Ltd with a target price of Rs 5,660 (Accumulate). Similarly, LG Electronics India Ltd is rated ‘Accumulate’ with a target price of Rs 1,690.
Bajaj Electricals Ltd gets an ‘Accumulate’ rating from the brokerage with a target price of Rs 384, while Crompton Greaves Consumer Electricals Ltd has a target price of Rs 320 (Accumulate).
In contrast, PL Capital maintained a ‘Hold’ rating on Voltas Ltd with a target price of Rs 1,308.
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