Cites favourable risk-reward ratio after firm completed restructuring of Belgium plant in Dec qtr
Goldman cites a favourable risk-reward ratio after the Indian power equipment maker completed the restructuring of its Belgium plant in the quarter ended in December.
The bank adds Crompton Greaves' valuations are trading at a historical trough, calling it "unjustified."
Goldman's report comes after Morgan Stanley added Crompton Greaves, among other stocks, to its India model portfolio in a report on Friday.
However, Goldman has cut Crompton's sum-of-the-parts target price to Rs 127 from Rs 144 to factor in slower improvement in overseas margins after the December quarter results.
Oil India Ltd (OIL) and ONGC Videsh Limited (OVL), the foreign arm of Oil and Natural Gas Corp, will make a joint bid to acquire a 10 per cent stake ...