Greaves Cotton hits over four-year high; stock rallies 39% thus far in June

The Gujarat government has announced its new electric vehicle (EV) policy, which provides a purchase incentive of Rs 10,000/kWh for EVs with the segment-wise limits

Shares of Greaves Cotton continued their upward movement and rallied 8 per cent in intra-day trade on the BSE on Wednesday to hit an over four-year high of Rs 174.45. The stock was trading its highest level since May 2017. It had hit a record high of Rs 178 on May 4, 2017.

Thus far in the month of June, Greaves Cotton has outperformed the market by surging 39 per cent, amid expectations of a strong business outlook. In comparison the S&P BSE Sensex was up 1.3 per cent during the same period.

Greaves Cotton is a diversified