 "Crompton Greaves gains on board nod to demerge consumer products business")
Shares of Crompton Greaves were trading higher by 2% at Rs 183 on NSE after the company said its board approved the proposed demerger of its consumer products business.
“The board decided to implement a 100% demerger of the consumer products business, such that the shareholding pattern of the resulting consumer company shall be same as the shareholding pattern of Crompton Greaves,” the company said in a statement.
The company in July last year proposed a demerger of the consumer products business unit, a move that found favour among investors.
Analyst at Angel Broking maintains Buy rating on the stock with target price of Rs 220.
The stock opened at Rs 187 and touched a high of Rs 189 on NSE. A combined 2.74 million shares changed hands on the counter till 1011 hours on NSE and BSE.
“The board decided to implement a 100% demerger of the consumer products business, such that the shareholding pattern of the resulting consumer company shall be same as the shareholding pattern of Crompton Greaves,” the company said in a statement.
The company in July last year proposed a demerger of the consumer products business unit, a move that found favour among investors.
Analyst at Angel Broking maintains Buy rating on the stock with target price of Rs 220.
The stock opened at Rs 187 and touched a high of Rs 189 on NSE. A combined 2.74 million shares changed hands on the counter till 1011 hours on NSE and BSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%