Angel Broking has maintained 'Buy' on Crompton Greaves with target price of Rs 200 in its report.

Commenting on the investment rationale, the stock broker said, ''Crompton Greaves wins contract to supply equipment to PGCIL Crompton Greaves has won a contract from Power Grid Corporation of India (PGCIL) to supply six sub-station automation systems (SAS) in Jharkhand.

The value of the contract has not been disclosed. Crompton Greaves' automation business unit would supply six sub-stations systems to PGCIL's Govindpur, Manoharpur, Jaduguda, Dalbhumgarh, Jamtara and Rourkela units while its engineering projects division would manage them. The scope of the contract also includes manufacturing and supply of ZIV protection and control relays, automation systems and engineering services.

We maintain Buy on the stock with a target price of Rs 200.''

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