MARKET EYE-Goldman reiterates 'buy' on India's Crompton Greaves

Mon Feb 4, 2013 10:41am IST

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* Goldman Sachs retains its "buy" rating on Crompton Greaves Ltd
 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.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.thomsonreuters.com@reuters.net)
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