Crompton Greaves gains after winning contract

Crompton Greaves rose 2.75% to Rs 183.15 at 15:25 IST on BSE after the company won a contract to supply ZIV single phase smart metres to Energias de Portugal (EDP), one of the major European operators in the energy sector.

The announcement was made during market hours today, 30 July 2015.

Meanwhile, the BSE Sensex was up 191.97 points, or 0.7%, to 27,755.40

On BSE, so far 3.18 lakh shares were traded in the counter, compared with an average volume of 3.52 lakh shares in the past one quarter.

The stock hit a high of Rs 184.50 and a low of Rs 177.30 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 29 July 2015, rising 10.03% compared with Sensex's 0.3% decline. The scrip also outperformed the market in past one quarter, gaining 5.47% as against Sensex's 1.24% gain.

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

ZIV's single phase smart meter model is nowadays the reference smart meter in the PRIME PLC market segment, after deployment of over 3 million ZIV units worldwide, Crompton Greaves said. The company offers ZIV meters, data concentrator units (DCUs), distribution automation solutions (DAS) and Substation Automation Systems (SAS).

On consolidated basis, Crompton Greaves' net profit dropped 75% to Rs 16.01 crore on 6.2% fall in total income to Rs 3264.20 crore in Q1 June 2015 over Q1 June 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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