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* Crompton Greaves Consumer Electricals (CGCEL) is wellpositioned with a strong presence across fans, lighting, pumps and appliances in the domestic light electrical industry, which is poised for strong double-digit growth, going forward.
* Looking ahead, its consumer business is expected sustain growth on the back of strong demand and higher outsourcing.
* We believe thrust on digital payments and shift in market from unorganised to organised segment in the current GST regime will be a very positive for the organised players like CGCEL.
* Expected double-digit growth in light electrical industry continues to augur well for CGCEL, in our view. Valuing at 35x P/E to its FY21E EPS, we maintain our BUY recommendation on the stock with Target Price of Rs290.
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