Crompton Greaves shares jump 18%, hit 52-week high; what should investors do?
Crompton Greaves Q4 results: Crompton Greaves Consumer Electricals shares on Friday, May 17 jumped 17.6 per cent and clocked a fresh 52-week high of Rs 398.8 on NSE.
Crompton Greaves share price today NSE, Crompton Greaves share price target, Crompton Greaves Q4 results: Crompton Greaves Consumer Electricals shares on Friday, May 17 jumped 17.6 per cent and clocked a fresh 52-week high of Rs 398.8 on NSE after global brokerages revised their target prices on the counter after the firm released its March quarter earnings report. At close, the counter settled at Rs 390.4, up 15.13 per cent on NSE. Check out Crompton Greaves share price targets:
Crompton Greaves Q4 results
Crompton Greaves Q4 results
Crompton Greaves Consumer Electricals posted a 1.43 per cent increase in consolidated net profit to Rs 133.43 crore in the March 2024 quarter.
Crompton Greaves dividend
Crompton Greaves dividend
Crompton Greaves has recommended a final dividend of Rs 3 per equity share of Rs 2 each for the financial year ended on March 31, 2024, subject to the approval of shareholders at the ensuing annual general meeting (AGM).
What should investors do with Crompton Greaves stock?
Jefferies has maintained a buy call on Crompton Greaves with a raised target of Rs 390 apiece from Rs 350 apiece.
Crompton Greaves shares: Buy, sell or hold?
CLSA has maintained an accumulate rating on Crompton Greaves. The brokerage raised the target by Rs 60 apiece to 370. CLSA noted the following key points:
-Q4 earnings ahead of est with better ECD margin on strong growth & price hikes revenue grew 12 per cent YoY with ECD +14 per cent YoY
-While lighting was flat high A&P spend and extended
-Producer responsibility costs weighed on the margin
Crompton Greaves shares: Buy, sell or hold?
Macquarie has maintained an outperform on Crompton Greaves with a target of Rs 329 apiece.
Crompton Greaves share price target
Goldman Sachs has maintained a buy call on Crompton Greaves. The brokerage has raised the target to Rs 410 apiece from Rs 360 apiece.
Crompton Greaves share price target
Citi has maintained a buy call with a target of Rs 424 apiece from Rs 341 apiece.
Crompton Greaves share price target
Morgan Stanley has maintained an equalweight rating with a target of Rs 275 apiece.
Crompton Greaves Management Outlook
Crompton Greaves Management Outlook
CGCEL Managing Director & CEO Promeet Ghosh said the company delivered a strong performance in ECD with double-digit growth for the third consecutive quarter with robust improvement in EBIT margins. The lighting business is showing signs of stabilisation with revenue growth in H2 despite price erosion.
On the outlook, he said, "We expect the intense summer season and an uptick in demand for home and kitchen appliances to support the growth momentum while we continue to invest in growth initiatives."
(With PTI inputs)
Image: Official website amd others
(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)