Greaves Cotton (GCL) reported weak numbers that missed our revenue and profit estimates. The company continues to face growth challenges in view of slowdown in 3W sales of its OEMs and delay in firming up new OEMs for engine supplies. Over the longer term, the company will have to contend with challenge from shift away from fossil fuels to electric engines. Our previous call on the stock was Reduce as we expected the earnings to continue to disappoint and hence believed that valuations need to correct. Since our previous update in Q1FY18, the stock has corrected sharply by 19%. While the growth outlook remains tepid (we...