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Crompton Greaves gains on entering into agreement with Karma Industries

14 Jan 2013 Evaluate

Crompton Greaves is currently trading at Rs 116.30, up by 0.20 points or 0.17% from its previous closing of Rs 116.10 on the BSE.

The scrip opened at Rs 116.85 and has touched a high and low of Rs 116.85 and Rs 115.30 respectively. So far 69817 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 125.10 and Rs 115.60 respectively. The current market cap of the company is Rs 7,460 crore.

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

Crompton Greaves has entered into a definitive agreement with the Himachal-Pradesh based Karma Industries to acquire its Compact Fluorescent Lamps (CFL) business, the manufacturing unit of which is based in Baddi, Himachal Pradesh, are dedicated to manufacturing CFL products. The approximate value of the acquisition is Rs 14.5 crore.

The acquisition will double the company’s capacity in the fast-growing CFL lighting segment and be integrated with the consumer business unit. It will help reinforce Crompton Greaves’ presence in the rapidly growing Indian consumer market.

Crompton Greaves is engaged in designing, manufacturing and marketing electrical products and services related to power generation, transmission and distribution.

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