Crompton Greaves gains on new order win

The announcement was made during trading hours today, 22 September 2014.

Meanwhile, the S&P BSE Sensex was down 48.27 points or 0.18% at 27,042.15

On BSE, so far 2.22 lakh shares were traded in the counter as against average daily volume of 5.73 lakh shares in the past one quarter.

The stock hit a high of Rs 215.20 and a low of Rs 208 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 underperformed the market over the past one month till 19 September 2014, rising 1.78% compared with the Sensex's 2.53% rise. The scrip, however, outperformed the market in past one quarter, gaining 8.85% as against the Sensex's 7.49% rise.

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

Crompton Greaves said that the company was selected by eRDF-ectricitReau Distribution France, the public electricity distribution company managing 95% of the electricity distribution network in continental France, as one of the six suppliers to manufacture the first three million of its new generation Linky smart meters. The initial order is the first phase of a 35 million unit rollout by 2021.

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.

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