Buy CG Consumer Electricals; target of Rs 500: Dolat Capital Market

Dolat Capital Market is bullish on CG Consumer Electricals has recommended buy rating on the stock with a target price of Rs 500 in its research report dated March 15, 2021.

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Dolat Capital Market’s research report on CG Consumer Electricals

The momentum seen in the last couple of quarters continues in Q4 for CG and it is confident of sustaining market share gains seen in Q2 and Q3. It is also confident of protecting margins by a combination of price hikes and cost control. All its segments are strong barring the B2B lighting business which is yet to pick up. Longer term plans are intact as it aims for a Top 2 position across product categories.

Outlook

We maintain our Buy rating and value the stock at 50xSEP22E with a TP of Rs500. It continues to be our pick among the light electrical stocks.

For all recommendations report, click here

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