Crompton Greaves drops on profit booking

Crompton Greaves lost 3.08% to Rs 58.20 at 10:45 IST on BSE, with the stock sliding on profit booking after recent sharp gains.

Meanwhile, the S&P BSE Sensex was up 13.25 points or 0.05% at 25,893.63.

On BSE, so far 3.71 lakh shares were traded in the counter as against average daily volume of 24.23 lakh shares in the past one quarter. The stock hit a high of Rs 60.15 and a low of Rs 57.90 so far during the day. The stock had hit a 52-week low of Rs 38.79 on 12 February 2016. The stock had hit a 52-week high of Rs 69.45 on 5 January 2016. The stock had outperformed the market over the past one month till 21 April 2016, gaining 25.74% compared with Sensex's 2.35% rise. The scrip had, however, underperformed the market in past one quarter, advancing 4.41% as against Sensex's 8% rise.

The mid-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.

Shares of Crompton Greaves had rallied 18.04% in the preceding six trading sessions to settle at Rs 59.85 yesterday, 21 April 2016, from its close of Rs 50.70 on 8 April 2016.

Crompton Greaves reported consolidated net loss of Rs 107.03 crore in Q3 December 2015 as against net profit of Rs 274.29 crore in Q3 December 2014. Net sales declined 14.2% to Rs 2067.80 crore in Q3 December 2015 over Q3 December 2014.

Crompton Greaves is engaged in the business of power and industrial systems.

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