Greaves Cotton gains after launching new range of farm equipment products

Greaves Cotton rose 1.46% to Rs 135.90 at 13:45 IST on BSE after the company launched its new range of Farm Equipment Products at manufacturing plant in Gummidipoondi near Chennai.

The announcement was made during market hours today, 14 September 2015.

Meanwhile, the S&P BSE Sensex was up 171.25 points or 0.67% at 25,781.46

On BSE, so far 41,493 shares were traded in the counter as against average daily volume of 43,086 shares in the past one quarter.

The stock hit a high of Rs 142.40 and a low of Rs 132.40 so far during the day. The stock had hit a 52-week low of Rs 117 on 26 May 2015. The stock had hit a record high of Rs 159.35 on 12 January 2015.

The stock had outperformed the market over the past one month till 11 September 2015, falling 5.74% compared with 8.10% fall in the Sensex. The scrip also outperformed the market in past one quarter, surging 8.07% as against Sensex's 2.88% decline.

The mid-cap company has equity capital of Rs 48.84 crore. Face value per share is Rs 2.

Greaves Cotton today, 14 September 2015 launched its new range of Farm Equipment Products - Mini Power Tiller (7 HP) & Paddy Weeder, under its 'Sampurna Swadheshi' program at manufacturing plant in Gummidipoondi near Chennai.

Under this program, Greaves Cotton's R&D centre has developed exclusive products to meet highest standards of quality and reliability, equipped with features meticulously designed after detailed understanding of Indian farming requirements. The new range of products is powerful, fuel efficient and easy to maintain. They are also designed to be light weight and are easy to operate and can be comfortably operated by women, Greaves Cotton said.

Greaves Cotton reported 50.8% rise in net profit to Rs 43.34 crore on 7.4% decline in total income to Rs 395.50 crore in Q1 June 2015 over Q1 June 2014.

Greaves Cotton is a multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in diesel/ petrol engines, farm equipment and gensets.

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