Crompton Greaves gains after buy recommendation from a foreign brokerage

Crompton Greaves rose 1.88% to Rs 219.60 at 12:59 IST on BSE after a foreign brokerage recommended a buy on the stock on the basis of potential asset sale though the business recovery is yet to happen.

Meanwhile, the S&P BSE Sensex was up 371.20 points or 1.39% at 27,002.49.

On BSE, so far 1.75 lakh shares were traded in the counter as against average daily volume of 5.85 lakh shares in the past one quarter.

The stock hit a high of Rs 220.70 and a low of Rs 214.70 so far during the day. The stock had hit a 52-week high of Rs 231 on 10 September 2014. The stock had hit a 52-week low of Rs 85 on 25 September 2013.

The stock had outperformed the market over the past one month till 17 September 2014, surging 9.08% compared with the Sensex's 2.02% rise. The stock had also outperformed the market in past one quarter, advancing 6.03% as against Sensex's 4.35% rise.

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

Crompton Greaves' consolidated net profit rose 6.6% to Rs 64.02 crore on 7.7% growth in net sales to Rs 3441.54 crore in Q1 June 2014 over Q1 June 2013.

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.

Powered by Capital Market - Live News