Greaves Cotton gains after twin bulk deals

Greaves Cotton rose 0.95% to Rs 132.45 at 10:55 IST on BSE after 5.83 lakh shares changed hands on the counter in two bulk deals on BSE.

A bulk deal of 2.83 lakh shares was executed on the scrip at Rs 133 per share at 10:15 IST on BSE. Another bulk deal of 3 lakh shares was executed on the scrip at Rs 132.70 per share at 10:18 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 111.37 points, or 0.41%, to 27,200.82

Bulk deal boosted volume on the scrip. On BSE, so far 6.10 lakh shares were traded in the counter, compared with an average volume of 74,051 shares in the past one quarter. The stock hit a high of Rs 133.50 and a low of Rs 130.50 so far during the day. The stock hit a 52-week high of Rs 150.35 on 13 July 2016. The stock hit a 52-week low of Rs 114.20 on 29 February 2016.

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

Greaves Cotton's net profit fell 6.65% to Rs 51.25 crore on 3.66% rise in net sales to Rs 438.42 crore in Q2 September 2016 over Q2 September 2015.

Greaves Cotton is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and gensets. The company sustains its leadership through seven manufacturing units which produces world class products backed by superior R&D, comprehensive marketing and service/parts network.

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