Exit Crompton Greaves on rally: PN Vijay

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Exit Crompton Greaves on rally: PN Vijay

Exit Crompton Greaves on rally, says PN Vijay, Portfolio Manager.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by PN Vijay See what other Experts & Brokerages are saying about Crompton Greave See messages about Crompton Greave

Exit Crompton Greaves on rally, says PN Vijay, Portfolio Manager.

Vijay told CNBC-TV18, "The worst may probably be over because of the strong actions been taken by the management but I am not brave enough to buy that stock because the environment for Crompton is still quite complex and they are in businesses where the costs are high, the margins are very low."

He further added, "I would prefer a Havells , which to my mind with the Sylvania turnaround being there has a much stronger profit growth potential. So Crompton - the management is working around, the Thapar's are a good group, they have got a very vibrant CEO but all that doesn't mean a buy on the stock. I would at best hold and exit in this rally."

The company's trailing 12-month (TTM) EPS was at Rs 10.82 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 14.40. The latest book value of the company is Rs 35.70 per share. At current value, the price-to-book value of the company was 4.37. The dividend yield of the company was 1.41%.