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Crompton Greaves rises on plan to demerge Consumer Products Business into separate listed company

03 Mar 2015 Evaluate

Crompton Greaves is currently trading at Rs 181.80, up by 2.00 points or 1.11% from its previous closing of Rs 179.80 on the BSE.

The scrip opened at Rs. 180.00 and has touched a high and low of Rs. 184.20 and Rs. 178.15 respectively. So far 389852 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 231.00 on 10-Sep-2014 and a 52 week low of Rs. 126.05 on 03-Mar-2014.

Last one week high and low of the scrip stood at Rs. 181.85 and Rs. 171.50 respectively. The current market cap of the company is Rs. 11187.42 crore.

The promoters holding in the company stood at 34.38% while Institutions and Non-Institutions held 45.79% and 19.68% respectively.

Crompton Greaves’ board has approved the Scheme for vertical demerger of Consumer Products Business Unit (BU) into wholly owned subsidiary Crompton Greaves Consumer Electricals, and the existing scheme with Crompton Greaves Consumer Products is withdrawn.

The new Scheme consists of 100% vertical demerger of the Consumer BU, and will come into effect from the Appointed Date 1st October, 2015, subject to receipt of all Regulatory approvals.

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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