Crompton Greaves is currently trading at Rs. 203.10, up by 17.25 points or 9.28% from its previous closing of Rs. 185.85 on the BSE.
The scrip opened at Rs. 199.80 and has touched a high and low of Rs. 208.90 and Rs. 198.00 respectively. So far 4,51,000 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. 75.25 on 28-Aug-2013.
Last one week high and low of the scrip stood at Rs. 208.90 and Rs. 166.85 respectively. The current market cap of the company is Rs. 12,961.00 crore.
The promoters holding in the company stood at 42.67% while Institutions and Non-Institutions held 42.19% and 14.95% respectively.
Crompton Greaves has received an approval to demerge its Consumer Products business unit into a separate listed company. The board of directors held its annual strategic review meeting on July 16, 2014 at Belgium and approved for the same.
The demerger will create better growth opportunities for its two large but significantly different businesses - Power, Industrial and Automation which is a B2B business, and the Consumer Products business which is B2C. The board also believes that this will create a more flexible capital structure for the two businesses to grow independently, allow them to pursue more ambitious strategic goals and, thus, create further value for existing shareholders.
Crompton Greaves 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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