In an effort to boost the stock price which has corrected around 22 percent this year, Crompton Greaves will be buying back shares worth Rs 266 crore. Further, the company has fixed the buy-back price at Rs 125 per share, which is at a premium of 43.18% from its previous closing price of Rs 87.30 (on June 28 on BSE). The company’s board of directors at its meeting held on June 28 has decided the same.
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.
