NTPC order powers Crompton

DALAL STREET SPIKES

The Crompton Greaves stock surged on the announcement of a new order on Thursday. The stock is having a dream run of late.

From a low of Rs 271.05 on January 24, 2005, the stock had appreciated 75 per cent to an all-time high of Rs 476.50 on March 4, 2005. The counter had witnessed a correction in between an overall weakness in the market.

In Thursday's trading, the stock was up 5.35 per cent to close at Rs 433.35 after the company announced the bagging of an order from NTCP. In intra-day trades, the stock appreciated more than 7 per cent to RS 442 with volumes accounting for more than 1.4 lakh shares on the BSE.

The transformers are to be supplied for NTPC's thermal power project in Chattisgarh. The government's thrust on power sector reforms, and the budget's focus on rural electrification also boosted the counter in the past couple of months, analyst added.