India's Crompton Greaves tumbles to over 2-year low

CG Power and Industrial Solutions

14/03/2023 10:02

** Shares of Crompton Greaves Consumer Electricals Ltd
 CROP.NS  fall as much as 2.4% to 287.60 rupees, the lowest
since Nov. 2, 2020
    ** CROP on track for fifth straight day of decline if losses
hold
    ** Stock below 50-, 100- and 200-day SMAs since Dec. 2,
2022, while moving average convergence divergence (MACD) goes
below signal line, both suggesting bearish momentum
    ** More than 1.1 mln shares traded by 3.00 p.m. IST vs
30-day avg. of 1.9 mln shares
    ** Thirty two of 37 brokerages rate the stock "buy" or
higher, 3 "hold" and 2 "sell;" their median PT is 377.50 rupees
- Refinitiv data
    ** Stock down about 12.4% so far this, extending a 23.1%
fall in 2022

 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))