Crompton Greaves surges on buyback plan

The company made the announcement during trading hours today, 25 June 2013.

Meanwhile, the S&P BSE Sensex was up 61.35 points, or 0.33%, to 18,602.24.

On BSE, 11.27 lakh shares were traded in the counter as against an average daily volume of 3.17 lakh shares in the past one quarter.

The stock hit a high of Rs 84.35 and a low of Rs 71.70 so far during the day. The stock had hit a 52-week high of Rs 141.70 on 8 October 2012. The stock had hit a 52-week low of Rs 73.10 on 24 June 2013.

The stock had underperformed the market over the past one month till 24 June 2013, falling 22.83% compared with the Sensex's 5.90% fall. The scrip had also underperformed the market in past one quarter, sliding 19.18% as against Sensex's 1.04% fall.

The mid-cap company has an equity capital of Rs 128.30 crore. Face value per share is Rs 2.

Crompton Greaves' consolidated net profit declined 74.8% to Rs 25.27 crore on 10.1% growth in net sales to Rs 3387.30 crore in Q4 March 2013 over Q4 March 2012.

Crompton Greaves is a global pioneering leader in the management and application of electrical energy. Across its operations in around 85 countries, the company provides electrical products, systems and services for utilities, power generation, industries, and consumers. The company is organized into four business groups: power, industrial, automation and consumer.

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