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Crompton Greaves rises on plan to sell part of its land parcel at LBS Marg in Mumbai

19 Jun 2014 Evaluate

Crompton Greaves is currently trading at Rs. 199.65, up by 1.50 points or 0.76% from its previous closing of Rs. 198.15 on the BSE.

The scrip opened at Rs. 202.15 and has touched a high and low of Rs. 207.20 and Rs. 198.65 respectively. So far 380876 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 219.25 on 11-Jun-2014 and a 52 week low of Rs. 71.70 on 25-Jun-2013.

Last one week high and low of the scrip stood at Rs. 212.70 and Rs. 189.00 respectively. The current market cap of the company is Rs. 12748.71 crore.

The promoters holding in the company stood at 42.67% while Institutions and Non-Institutions held 42.47% and 14.64% respectively.

Crompton Greaves is all set to sell part of its land parcel at LBS Marg in the eastern suburbs of Mumbai. The deal is likely to be announced in 7-10 days. The total valuation of the 32-34-acre plot is estimated at Rs 1,400 crore. Leading builders will be in the race to buy the land parcel, including Lodha, Runwal and Oberoi Realty.

The property in LBS Marg, Kanjurmarg, has an excellent view. While there is a factory on the adjacent area now, it is expected the factory will be shifted gradually; the rest of the land will also be sold.

Crompton Greaves (CG) is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers.

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