Crompton Greaves gains after consortium with Cofely Fabricom secures new contract

Crompton Greaves rose 0.36% to Rs 151.45 at 10:55 IST on BSE after the company announced that its consortium with Cofely Fabricom, lemants has secured a new contract for the EnBW Hohe See offshore wind farm in the North Sea.

The announcement was made after market hours yesterday, 10 March 2016.

Meanwhile, the BSE Sensex was up 157.46 points, or 0.64%, to 24,791.

On BSE, so far 3.57 lakh shares were traded in the counter, compared with an average volume of 11.69 lakh shares in the past one quarter. The stock hit a high of Rs 152.25 and a low of Rs 149.95 so far during the day.

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

Crompton Greaves said in a statement that the consortium will design, supply and install the complete offshore substation for the German utility EnBW.

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. The consolidated net sales declined 14.2% to Rs 2067.80 crore in Q3 December 2015 over Q3 December 2014.

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 and industries. The company is organised into three business groups: power, industrial, and automation.

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