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Last Updated : Jan 17, 2020 02:46 PM IST | Source: Moneycontrol.com

Crompton Consumer share price climbs 5% after CLSA retains bullish view

Crompton sees margin rebounding with efforts on cost optimisation.

 
 
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Crompton Greaves Consumer Electrical share price rallied nearly 5 percent intraday on January 17 after CLSA retained its bullish view on the stock amid hope for growth visibility.

"New category growth in first half of FY20 offers hope for growth visibility," said the global brokerage, which reiterated outperform call on the stock with a target price of Rs 290, implying an 18 percent potential upside from current levels.

Crompton sees margin rebounding with efforts on cost optimisation.

"FY19-22 EPS compound annual growth rate (CAGR) is seen at 17 percent, while lighting margins are expected to remain volatile but on an improving trajectory," said CLSA.

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The net cash balance sheet and free cash flow may help undertake inorganic acquisition, it added.

The stock was quoting at Rs 251.85, up Rs 5.60, or 2.27 percent, on the BSE at 1433 hours.

Disclaimer: The report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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First Published on Jan 17, 2020 02:46 pm
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