|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
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.