Crompton Greaves gains on expansion plans

The company has set up a high-efficiency, low-voltage rotating machines (LVRM) plant at Goa.

Crompton Greaves has moved higher by 4% at Rs 115 after the company said that it has set up a high-efficiency, low-voltage rotating machines (LVRM) plant at Goa.

“The new plant capacity has been set at 10,000 additional units each month. This represents a 66% capacity increase to the current production capacity. The unit will handle a three-phase production of induction motors from 0.37 to 9.3 KW,” Crompton Greaves said in a statement.

The stock opened at Rs 111 and touched high of Rs 116 on the BSE. The counter has seen huge trading activities with a combined 2.8 million shares changing hands compared to an average 1.5 million shares that were traded in past two weeks.