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Shares of Crompton Greaves were up nearly 4% at Rs 183, in an otherwise weak market, after the company announced that it has signed a global supply agreement with cement major Lafarge for electrical motors.
"Our sincere thanks to Lafarge for reposing their trust in CG's expertise in this sector, as one of the leading players in industrial motors. This global supply agreement is a perfect fit for both the companies to leverage the growing demand in infrastructure the world over," said Crompton Greaves' CEO and managing director, Mr. Laurent Demortier.
The stock opened at Rs 178 and touched a high of Rs 184. At 10:35AM, over 4.3 million shares were traded on both the stock exchanges.
