MARKET EYE-India's Havells rises on brand rights transfer
* Shares in Havells India Ltd gain 4.3 percent as analysts lauded the transfer of the brand name 'Havells' from one of its promoters to the company at no cost. * Havells shares on the BSE exchange rose 4.15 percent after earlier hitting a record high of 683.90 rupees. * Havells India said on Monday its promoter QRG Enterprises would transfer its ownership of the trademark Havells, effective from April 2016. * Citigroup says the transfer would save Havells royalty payments of up to 400 million rupees ($7.26 million) a year that the company could use to pay out dividends. * Citi adds the move also is "a major positive" in terms of corporate governance as it benefits minority shareholders. * Havells shares gained 1.94 percent over the previous two sessions on the BSE index. ($1 = 55.0700 Indian rupees)
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