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Crompton Greaves trades jubilantly on plan to sell its T&D business

09 Mar 2016 Evaluate

Crompton Greaves is currently trading at Rs. 146.15, up by 6.60 points or 4.73% from its previous closing of Rs. 139.55 on the BSE.

The scrip opened at Rs. 140.95 and has touched a high and low of Rs. 151.80 and Rs. 140.35 respectively. So far 2049214 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 203.50 on 05-Jan-2016 and a 52 week low of Rs. 113.65 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 151.80 and Rs. 134.15 respectively. The current market cap of the company is Rs. 9307.18 crore.

The promoters holding in the company stood at 34.42% while Institutions and Non-Institutions held 49.17% and 16.40% respectively.

Crompton Greaves has received and accepted a revised binding letter of offer from First Reserve International, a US Private Equity Fund, for acquisition of the European, North American and Indonesian activities of the Power segment division of the company for an enterprise value of euro 115 million. The offer is subject to regulatory, shareholders approvals and signing of definitive share purchase agreement.

The sale will enable the company to reduce debt and focus on its faster growing Indian businesses. The company continues to actively examine its other international B2B businesses with a view to monetize these businesses to enhance shareholder value.

Crompton Greaves is an Indian multinational company engaged in design, manufacturing, and marketing of products related to power generation, transmission, and distribution based in Mumbai.

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