The 12-month target price post listing could be around Rs.152. The company is expected to reduce its debt totally by FY18, while its net profit is estimated at around Rs.310 crore in FY17 and Rs.380 crore in FY18.
Crompton Greaves Consumer Electrical, the de-merged entity of Crompton Greaves, today got listed at Rs. 126.20 on BSE. Last year, the shareholders sold their entire stake at Rs. 93 per share.
The 12-month target price post listing could be around Rs.152. The company is expected to reduce its debt by FY18 completely, while its net profit is estimated to come in at Rs.310 crore in FY17 and Rs.380 crore in FY18.
Meanwhile, HSBC Securities and Capital Markets (India) Private Limited and Barclays Bank PLC have made an open offer to buy 26% stake in the company at Rs.104 per share.
Today, the scrip opened 18.58% lower at Rs.126.20 as against its offer price of Rs.155 per share.
The 12-month target price post listing could be around Rs.152. The company is expected to reduce its debt by FY18 completely, while its net profit is estimated to come in at Rs.310 crore in FY17 and Rs.380 crore in FY18.
Meanwhile, HSBC Securities and Capital Markets (India) Private Limited and Barclays Bank PLC have made an open offer to buy 26% stake in the company at Rs.104 per share.
Today, the scrip opened 18.58% lower at Rs.126.20 as against its offer price of Rs.155 per share.
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