Crompton Greaves down 38% from May high; stock may see pullback: Brokerages

Analysts at Choice Broking flag that Crompton Greaves has taken support around its multi-year horizontal support zone of ₹190-₹200, with momentum indicators supporting a potential reversal.

Disclaimer: Views and outlook in this report belong to the brokerages and analysts cited. They do not reflect the views of Business Standard. Readers are advised to exercise discretion.

 Crompton Greaves Consumer Electricals share price movement

 Shares of Crompton Greaves Consumer Electricals have witnessed a tepid trend over the last two weeks despite reporting better-than-expected Q2 earnings. The stock hit a 52-week low of ₹192.02 on October 23, 2026, down 37.6 per cent from its calendar year high of ₹307.7 hit in May 2026. Post its Q2 earnings on October 16, the stock shed nearly 11 per cent. On Thursday, the stock quoted 1 per cent lower at 202.10 on combined trading volume of around 6.40 lakh shares on the BSE and the NSE. Meanwhile, the Sensex was up 0.7 per cent at 73,750 levels. 

Choice Broking expects a technical pullback in Crompton Greaves

 Analysts at Choice Broking reckon that Crompton Greaves stock has now taken support around its multi-year horizontal support zone of ₹190–₹200. The brokerage adds that this support zone aligns with the key 0.786 Fibonacci retracement level near ₹193.35. 

 

 "Historically, this crucial demand area has triggered robust bullish rebounds, highlighting strong buying interest and price rejection at lower levels," Choice Broking said in its monthly choice report. Further, analysts state that momentum indicators support a potential upside reversal, with the monthly Relative Strength Index (RSI) at 36.25, approaching oversold territory where historical price bounces have frequently originated. The brokerage believes the stock can pull back toward ₹230 levels if it firmly holds above the demand floor. As a trading strategy analysts suggest placing a stop loss at ₹189, below the multi-year support zone, thus offering a favourable risk-to-reward ratio for a likely recovery target of ₹230. 

Brokerages upbeat on Crompton Greaves stock post Q2

 Brokerages remain positive on Crompton Greaves' long-term growth prospects owing to steady demand across segments and cost management-led margin gains. The company reported better-than-expected Q2 earnings backed by low single-digit price hikes and double-digit growth across segments. Profit-after-tax surged 70 per cent YoY to ₹110 crore in Q2FY27 from ₹70 crore in Q2FY26. Revenue rose 18.4 per cent to ₹1,932 crore, backed by highest-ever exports in a quarter, with a 70 per cent YoY jump. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew 26 per cent YoY to ₹172 crore, and EBITDA margins expanded by 50 basis points to 8.9 per cent. Analysts at Motilal Oswal have a 'Buy' rating on the stock with a target price of ₹300 per share. Similarly, Elara Research also retained its 'Buy' call with a target price of ₹325. READ MORE Crompton strengthens water Heatng Portfolio Crompton Greaves on Wednesday announced the launch of 5.9L Instant Water Heaters. According to an exchange filing, this water heater is designed to bring together faster heating and enhanced capacity, the new water heater range is built to address the needs of modern households and kitchens. With the launch of the range of 5.9L Instant Water Heaters, Crompton continues to strengthen its water heating portfolio with solutions that bring together performance, safety and convenience to address the evolving needs of consumers, the release added.