Crompton Greaves rises on setting up green-field plant in Jigani

30 Nov 2012

Crompton Greaves is currently trading at Rs. 115.00, up by 1.95points or 1.72% from its previous closing of Rs. 113.05 on the BSE.

The scrip opened at Rs. 113.90 and has touched a high and low of Rs. 115.10 and Rs. 113.45 respectively. So far 69,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 167.00 on 17-Feb-2012 and a 52 week low of Rs. 102.40 on 28-May-2012.

Last one week high and low of the scrip stood at Rs. 117.95 and Rs. 112.50 respectively. The current market cap of the company is Rs. 7,377 crore.

The promoters holding in the company stood at 41.69% while Institutions and Non-Institutions held 40.49% and 17.58% respectively.

Avantha Group Company, Crompton Greaves is setting up a green-field plant in Jigani Industrial Area, Bangalore. It aims to commission this plant by the year-end and help bolster the country’s smart grid initiative. The plant will be making intelligent electronic devices (IEDs) which are critical in control and monitoring of power systems. It will also assemble control and relay panels using these IEDs.  

The company has reported 0.56% fall in its net profit at Rs 111.69 crore for the quarter ended September 30, 2012 as compared to Rs 112.32 crore for the same quarter in the previous year.  However, total income of the company has increased by 14.75% at Rs 1684.88 crore for quarter under review as compared to Rs 1468.29 crore for the quarter ended September 30, 2011.

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