Crompton Greaves gains after winning orders

Crompton Greaves rose 1.75% to Rs 183.30 at 9:26 IST on BSE after the company said it won three orders from Energy Efficiency Services for the implementation of energy efficiency projects in the country.

The announcement was made after market hours yesterday, 4 February 2015.

Meanwhile, the BSE Sensex was up 93.95 points, or 0.32%, to 29,474.68.

On BSE, so far 89,000 shares were traded in the counter, compared with an average volume of 6.43 lakh shares in the past one quarter.

The stock hit a high of Rs 184 and a low of Rs 182.30 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 131.90 on 5 March 2014.

The stock had outperformed the market over the past one month till 4 March 2015, rising 7.26% compared with 1.72% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 6.49% as against Sensex's 2.86% rise.

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

Crompton Greaves said it won three orders from Energy Efficiency Services (EESL), a joint venture set up by the Power Ministry comprising of four public sector undertakings - NTPC, PFC, REC and Power Grid, for the implementation of energy efficiency projects in the country.

Crompton Greaves said it will supply close to 4 million LED lamps to EESL for its different projects, the first of which was launched in Andhra Pradesh to distribute 7W LED lamps to consumers at an affordable price, followed by the project in Delhi. The move is part of the government's plan to boost energy efficiency through widespread use of Light Emitting Diode (LED) technology-based lighting solutions in the country.

Crompton Greaves' consolidated net profit jumped 342.3% to Rs 274.29 crore on 5.7% rise in total income to Rs 3625.21 crore in Q3 December 2014 over Q3 December 2013.

Crompton Greaves was established in 1937 in India; and, is into management and application of electrical energy.

Powered by Capital Market - Live News