Goldman reiterates 'buy' on Crompton Greaves

Mon Feb 4, 2013 11:07am IST

Related Topics

Stocks

   

Reuters Market Eye - Goldman Sachs retains its "buy" rating on Crompton Greaves Ltd (CROM.NS) and adds the stock to its Asia-Pacific Conviction List.

Goldman cites a favourable risk-reward ratio after the Indian power equipment maker completed the restructuring of its Belgium plant in the quarter ended in December.

The bank adds Crompton Greaves' valuations are trading at a historical trough, calling it "unjustified."

Goldman's report comes after Morgan Stanley added Crompton Greaves, among other stocks, to its India model portfolio in a report on Friday.

However, Goldman has cut Crompton's sum-of-the-parts target price to 127 rupees from 144 rupees to factor in slower improvement in overseas margins after the December quarter results.

(Reporting by Abhishek Vishnoi)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Markets

REUTERS SHOWCASE

Segway in India

Segway in India

Segway’s India business pegs hope on tech-savvy Modi  Full Article 

Power Outage

Power Outage

Mumbai hit by power cuts  Full Article 

Commodities

Commodities

Gold imports, premiums to jump on festive demand - top refiner  Full Article 

Economic Worries

Economic Worries

Pakistan's promises to IMF in doubt as protests sap economy   Full Article 

Islamic Finance

Islamic Finance

Basel III deposit challenge looms over Islamic banks   Full Article 

Antitrust Probes

Antitrust Probes

U.S. business lobby says concerned China antitrust probes unfair.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage