Crompton Greaves gains after winning contract

Crompton Greaves rose 1.48% to Rs 195.65 at 9:31 IST on BSE after the company said it signed a new contract to provide ZIV protections to Saudi Electricity Company.

The announcement was made after market hours yesterday, 16 July 2015.

Meanwhile, the BSE Sensex was up 106.29 points, or 0.37%, to 28,552.41.

On BSE, so far 1.11 lakh shares were traded in the counter, compared with an average volume of 3.31 lakh shares in the past one quarter.

The stock hit a high of Rs 196.40 and a low of Rs 194 so far during the day. The stock hit a 52-week high of Rs 231 on 10 September 2014. The stock hit a 52-week low of Rs 153.10 on 9 February 2015.

The stock had outperformed the market over the past one month till 16 July 2015, rising 19.57% compared with 6.59% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.84% as against Sensex's 0.77% fall.

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

Crompton Greaves (CG) announced that it signed a new contract to provide ZIV protections for Saudi Electricity Company (SEC), the largest power utility company in the Middle East serving approximately five million customers in the Kingdom of Saudi Arabia (KSA).

With this order, CG reinforces its position as an important supplier of Substation Automation equipment to SEC, providing feeder protections, transformer differential protections, transformer voltage regulators and teleprotection systems, the company said.

On consolidated basis, Crompton Greaves reported net loss of Rs 199.53 crore in Q4 March 2015 compared with net profit of Rs 80.50 crore in Q4 March 2014. Total income fell 1.6% to Rs 3826.96 crore in Q4 March 2015 over Q4 March 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, industries, and consumers. The company is organised into four business groups: power, industrial, automation, and consumer.

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