Crompton Greaves gains on order from Saudi firm

The company will provide ZIV protections for Saudi Electricity Company

Shares of Crompton Greaves were up nearly 2% at Rs 196 on the Bombay Stock Exchange after the company announced that it has signed a new contract to provide ZIV protections for Saudi Electricity Company, the largest power utility company in the Middle East.

With this order, CG reinforces its position as an important supplier of Substation Automation equipment to SEC, providing Feeder Protections, Transformer Differential Protections, Transformer Voltage Regulators and Teleprotection Systems, the company said in a release.

Meanwhile, the company has not disclosed the value of the order.

The stock opened at Rs 195 and touched a high of Rs 197. At 12:20PM, over 3.4 million shares were traded on both the stock exchanges.