Moneycontrol
Last Updated : Jul 11, 2018 01:35 PM IST | Source: Moneycontrol.com

Crompton Greaves shares gain 4% after Macquarie retains outperform, sees 27% upside

Valuations of the stock are undemanding at 28x March 2020 expected earnings per share, it said.

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Crompton Greaves Consumer Electrical share price rallied 4 percent intraday on Wednesday after global brokerage firm Macquarie maintained its outperform rating with a target price at Rs 292 per share, implying a 27 percent potential upside.

Valuations of the stock are undemanding at 28x March 2020 expected earnings per share, it said.

Company's product launches are on the way in FY19 and it would launch two key new products in the second half of FY19, it added.

Meanwhile, a meeting of the board of directors is scheduled to be held on July 25 to consider the unaudited financial results for the quarter ended June 30, 2018.

At 13:00 hours IST, the stock price was quoting at Rs 235, up Rs 5.50, or 2.40 percent on the BSE.
First Published on Jul 11, 2018 01:35 pm
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