Buy Crompton Greaves Consumer Electricals, target price Rs 422: IIFL

IIFL has buy call on Crompton Greaves Consumer Electricals Ltd. with a target price of Rs 422. The current market price of Crompton Greaves Consumer Electricals Ltd. is Rs 408.4.
Time period given by analyst is Intra Day when Crompton Greaves Consumer Electricals Ltd. price can reach defined target.

Crompton Greaves Consumer Electricals Ltd., incorporated in the year 2015, is a Mid Cap company (having a market cap of Rs 25611.44 Crore) operating in Consumer Durables sector.


Crompton Greaves Consumer Electricals Ltd. key Products/Revenue Segments include Electrical Consumer Durables, Lighting Products, Scrap, Sale of services and Export Incentives for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 1424.63 Crore, up 1.62 % from last quarter Total Income of Rs 1401.99 Crore and up 4.14 % from last year same quarter Total Income of Rs 1368.06 Crore. Company reported net profit after tax of Rs 148.26 Crore in latest quarter.


Investment Rationale
The stock has crossed above its previous swing high with high volume

Promoter/FII Holdings
Promoters held 5.99 per cent stake in the company as of 31-Dec-2021, while FIIs owned 50.52 per cent, DIIs 32.82 per cent.