Stay away from Crompton Greaves: Avinnash Gorakssakar

In a chat with ET Now, Avinnash Gorakssakar, Founder & Director, Moneyinvestment.in, shares his views on Crompton Greaves.

ET Now: On the charts Crompton Greaves?

Avinnash Gorakssakar: Clearly disappointing numbers, a big 60% drop in the profit and coming couple of quarters are also going to be extremely tight. On the European subsidiary front, we still continue to understand that margin pressures are quite visible and more importantly the stock has actually underperformed significantly over the last two quarters.

So, another one quarter of bad numbers, and the stock could possibly be hammered into double digits. So clearly stay away, not worthwhile to get into the stock even at the current levels.