Crompton Greaves Consumer Electricals shares rose on Thursday, snapping a three-day losing streak, after brokerage Motilal Oswal initiated coverage on the stock with a ‘Buy’ rating.
At around 2.10 pm, the stock was trading at Rs 257 apiece on the NSE, up 3.15 percent. In early trade, the shares had climbed over 4 percent, marking their sharpest single-day rise in about seven months.
Motilal Oswal has set a price target of Rs 350 per share, implying an upside of about 42 percent from the last closing price.
The brokerage said higher investments in advertising and promotional spending, along with efforts to strengthen the brand and product portfolio, are expected to support the company’s future growth.
It expects Crompton Greaves Consumer Electricals to post around 8 per cent revenue compound annual growth rate during FY26–FY28 and sees gross margins improving over FY27–FY28.
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