business

Stock Of The Day: Crompton Greaves Consumer Electricals | Should you buy after the sharp selloff?

Crompton has been in limelight as it has tanked around 12 percent in the last month following the announcement of realignment at the top. However, the company has exhibited steady growth over the years and is a well-run professionally managed firm with solid business fundamentals, strong market position and high standards of corporate governance. Changes in business strategy and new growth initiatives, including recent acquisition of Butterfly, are likely to drive profitability over medium to long term. Following the recent correction, Crompton is trading at a lower valuation than majority of its peers, despite the fact that its revenue growth outlook is more or less in line with the industry standards

first published: May 11, 2023 11:16 am