Crompton Greaves is currently trading at Rs. 93.50, up by 0.30 points or 0.32% from its previous closing of Rs. 93.20 on the BSE.
The scrip opened at Rs. 93.55 and has touched a high and low of Rs. 94.15 and Rs. 92.15 respectively. So far 72,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 141.70 on 08-Oct-2012 and a 52 week low of Rs. 87.25 on 10-Apr-2013.
Last one week high and low of the scrip stood at Rs. 95.00 and Rs. 90.25 respectively. The current market cap of the company is Rs. 5,997.00 crore.
The promoters holding in the company stood at 41.69% while Institutions and Non-Institutions held 39.10% and 18.98% respectively.
Avantha Group Company Crompton Greaves (CG) and PT Prima Layanan Nasional Enjinring (PLNE) have signed a joint venture agreement (JVA) to manufacture and commercialize High Voltage (HV) and Extra High Voltage (EHV) switchgear in Indonesia. The joint venture will be owned 51% by CG and 49% by PLNE and will be a part of CG’s global organization.
The JV includes a technology transfer by CG over a period of five years for the production of the entire range of switchgear for the network - from 70kV to 500kV - and will be localized through CG’s new manufacturing base in Indonesia. The production is expected to commence in 24 months. The focus of the collaboration is to enhance the sustainable operation of the entire transmission and distribution grid in Indonesia.
Besides, CG’s equipment portfolio will also include the production of HV and EHV Switchyard equipment, the range of SF6 Circuit Breakers, Current Transformers, Inductive Voltage Transformers, Capacitor Voltage Transformers and Lightning Arresters. The products manufactured in the new facility in Indonesia will be distributed through CG’s marketing network in the South-East Asian markets and the Pacific Region.
PLNE is an engineering company owned by Perusahaan Listrik Negara (PLN), an Indonesian government-owned Sole Electricity Utility Company.
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