Stock market analysts have maintained 'buy' rating on Crompton Greaves with an intraday target above Rs 387.

According to them, interested traders can purchase the stock around Rs 382-383 with a strict stop loss of Rs 378. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 395.

Shares of the company, on Monday (Nov 02), closed at Rs 381.95 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 12.73 and 29.89 respectively. The share price has seen a 52-week high of Rs 395 and a low of Rs 99.70 on BSE.

Crompton Greaves posted an increase of 61% in its consolidated net profit for the second quarter ended September 30, 2009.

For the second quarter, the company's net profit stood at Rs 193.37 crore as against a net profit of Rs 120.12 crore in the September quarter of FY'09.

The company's total income came up to Rs 2,204.35 crore during the July- September quarter.

On a standalone basis, the company's recorded a net profit of Rs 136.1 crore in the second quarter, a 47% growth over the year-ago period.

The company's total income rose to Rs 1,278.49 crore during the quarter.

Moreover, the company's board announced an interim dividend of 40% at the rate of Rs 0.80 per share having face value of Rs 2.

Crompton Greaves through its arm, Pauwels Trafo Belgium NV, has forayed into a definitive MoU with the EIC Group, headquartered in Saudi Arabia, for setting up a JV company for the production of medium power transformers in Saudi Arabia.