Buy Crompton Greaves, target Rs 78: Tejal Shah

Tejal Shah of Edelweiss Financial Services has a buy call on Crompton Greaves Ltd. with a target price of Rs 78. The current market price of Crompton Greaves Ltd. is 72. Time period given by analyst is Intra Day, when Crompton Greaves Ltd. price can reach defined target. Tejal Shah recommended to keep stop loss at Rs 68.5. The stock has hit a high of Rs 151.85 and low of Rs 142.70 so far in trade. The scrip has taken support from its 20-day moving average placed at Rs 140.76 level. The stock is trading at a P/E of 87.85. Crompton Greaves de-merged its consumer segment as a separate entity and listed it on BSE on May 12.