The northward move in the company's stock price follows the news that its e-mobility division, Greaves Electric Mobility, has introduced the Ampere Magnus Neo
By 01:05 PM, as many as 50.11 million equity shares, representing 21.55 per cent of the total equity of Greaves Cotton, had changed hands on the NSE
Greaves Cotton share rose after the company announced that its material subsidiary, Greaves Electric Mobility, has filed a Draft Red Herring Prospectus (DRHP) with Sebi, BSE and NSE for Rs 1,000 crore
Greaves Electric Mobility intends to use the proceeds from the fresh issue of shares for product research, development, and building battery assembly capabilities, and boosting manufacturing capacity
The average trading volumes at the counter jumped over two-fold with a combined 30.9 million shares representing 13.3% equity of the company changing hands on the NSE and BSE till 02:57 pm.
The BSE Smallcap index hit a record high of 57,798.64 in Wednesday's intra-day trade, rallying 11% from a low of 51,952.79 that it touched on November 13, 2024
Greaves Cotton hits 35-monhts high of Rs 232.65, surging 18% in two days after Vijay Kedia-led Kedia Securities bought over 1 million shares of the company via the open market
Shares of Greaves Cotton plunged up to 13.66 per cent at Rs 154.50 per share on the BSE
The BSE Smallcap index slipped 2.5% or 1,346 points to 52,258 in Wednesday's intra-day trade and down 6.7% in the past one week as sustained FIIs selling and earnings disappointment weighed.