Crompton Greaves corrects on profit booking

Crompton Greaves fell 4.52% to Rs 145.70 at 15:00 IST on BSE on profit booking after the stock surged 19.97% in the preceding five trading sessions to Rs 152.60 on 10 March 2014, from a recent low of Rs 127.20 on 3 March 2014.

Meanwhile, the BSE Sensex was down 110.77 points, or 0.50%, to 21,824.06.

On BSE, so far 5.57 lakh shares were traded in the counter, compared with an average volume of 3.02 lakh shares in the past one quarter.

The stock hit a high of Rs 154.10 and a low of Rs 145.45 so far during the day. The stock hit a 52-week high of Rs 153.80 on 10 March 2014. The stock hit a 52-week low of Rs 71.70 on 25 June 2013.

The stock had outperformed the market over the past one month till 10 March 2014, rising 28.94% compared with the Sensex's 7.87% rise. The scrip had also outperformed the market in past one quarter, rising 13.58% as against Sensex's 3.20% rise.

The mid-cap company has an equity capital of Rs 125.82 crore. Face value per share is Rs 2.

On a consolidated basis, Crompton Greaves reported net profit of Rs 62.02 crore in Q3 December 2013 as compared to net loss of Rs 189.36 crore in Q3 December 2012. Total income rose 12.99% to Rs 3392.35 crore in Q3 December 2013 over Q3 December 2012.

Crompton Greaves is a global pioneering leader in the management and application of electrical energy. It provides electrical products, systems and services for utilities, power generation, industries, and consumers. The company is organized into three business groups: power, industrial and consumer.

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