Crompton Greaves rose 0.31% to Rs 176.30 at 15:20 IST on BSE after the company said that its smart grid solutions will support the expansion of Dominican Republic's transmission network.
The announcement was made by the company during market hours today, 18 January 2016.Meanwhile, the S&P BSE Sensex was down 256.70 points or 1.09% at 24,187.51.
On BSE, so far 1.88 lakh shares were traded in the counter as against average daily volume of 2.19 lakh shares in the past two weeks. The stock hit a high of Rs 178.05 and a low of Rs 169.30 so far during the day. The stock had hit a 52-week high of Rs 203.50 on 5 January 2016. The stock had hit a 52-week low of Rs 152.85 on 8 September 2015.
Crompton Greaves said that it has won a contract to equip seven transmission substations of Dominican Republic Transmission Utility ETED with ZIV substation automation and telecommunication systems. The timing for delivery is March 2016, followed by project commissioning by June 2016. The project is part of the expansion of the electricity transmission system in the southern region of the Dominican Republic where the largest wind farm in the country is located.
On consolidated basis, Crompton Greaves' net profit fell 25.1% to Rs 52.14 crore on 6.2% decline in net sales to Rs 3216.13 crore in Q2 September 2015 over Q2 September 2014.
Crompton Greaves is a global pioneering leader in the management and application of electrical energy. The company provides electrical products, systems and services for utilities, power generation, industries, and consumers.
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