Stay away from Crompton Greaves: Sudip Bandyopadhyay

Sudip Bandyopadhyay, MD & CEO, Destimoney Securities Pvt. Ltd. in an interview with ET Now talks about Crompton Greaves.

What would you do with the Crompton now?

I will like to stay away from the counter. In fact up to a point of time, most of the market was very bullish on Crompton. If you look back 3-4 months, people were very bullish. Unfortunately last quarter results were not up to the mark and even this quarter, the results which came were really disastrous.

On top of it, the aircraft purchase, the ex-CEO selling the entire shareholding, all these does not augur well for the company and people are genuinely concerned and the research houses, the estimates which have come in, I do not think they support the prices even at 150. What is being talked about in some of the research report is that what we saw in FY2011, we will again go and see those kind of numbers in FY2014. So next 2 years, people are talking about complete write off as far as Crompton Greaves are concerned. So I will be very very cautious and not like to trade in that counter for the time being.