Published on 24/09/2019 11:37:49 AM | Source: Reliance Securities Ltd

Buy Crompton Greaves Consumer Electricals Ltd For Target Rs.290 - Reliance Securities


* Crompton Greaves Consumer Electricals (CGCEL) is wellpositioned with a strong presence across fans, lighting, pumps and appliances in the domestic light electrical industry, which is poised for strong double-digit growth, going forward.

* Looking ahead, its consumer business is expected sustain growth on the back of strong demand and higher outsourcing.

* We believe thrust on digital payments and shift in market from unorganised to organised segment in the current GST regime will be a very positive for the organised players like CGCEL.

* Expected double-digit growth in light electrical industry continues to augur well for CGCEL, in our view. Valuing at 35x P/E to its FY21E EPS, we maintain our BUY recommendation on the stock with Target Price of Rs290.


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