Buy Crompton Greaves with a target of 280: MAIA Financial Services

Avani Mehta, Fundamental Analyst, MAIA Financial Services Pvt. Ltd. in a chat with ET Now talks about Crompton Greaves.

Why do you like Crompton Greaves?

Crompton Greaves is engaged in the business of designing and manufacturing electronic products which are useful for power generation, distribution and we like this stock very much. Yesterday only there was an announcement made by state owned electricity transmission company, Power Grid Corporation of India that they would be soon tendering 64000 crores of tenders wherein they will invite companies to bid for it and we are very optimistic that Crompton Greaves can very well benefit from this and the huge opportunity which lies in the power sector is tremendous.

So I would recommend a buy on Crompton Greaves and as far as their international business is concerned, some 9% to 10% of the business comes from euro. So possibly there could be a dip in that but the kind of sales that we can get from the domestic market can very well outset the international sales dip. So we recommend a buy on Crompton Greaves for the first target at Rs 280.