Buy Crompton Greaves, target price Rs 357: Yes Securities

Yes Securities has buy call on Crompton Greaves Consumer Electricals with a target price of Rs 357. The current market price of Crompton Greaves Consumer Electricals Ltd. is Rs 330.1.

Crompton Greaves Consumer Electricals Ltd., incorporated in the year 2015, is a Mid Cap company (having a market cap of Rs 21194.48 Crore) operating in Consumer Durables sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1213.19 Crore, up 68.48 % from last quarter Sales of Rs 720.10 Crore and up 12.77 % from last year same quarter Sales of Rs 1075.79 Crore Company reported net profit after tax of Rs 141.68 Crore in latest quarter.

Investment Rationale
In overall uptrend, the stock has witnessed few days of consolidation breakout. Appearance of bullish candle at current juncture could mean resumption of uptrend.

Promoter/FII Holdings
Promoters held 16.2 per cent stake in the company as of Sept 30, 2020, while FIIs held 30.3 per cent, DIIs 26.1 and public and others 17.4 per cent.