Crompton Greaves rose 1.23% to Rs 65.70 at 11:07 IST on BSE after the company said it won a $105 million order from PT PLN Indonesia.
The announcement was made during trading hours today, 17 January 2017.Meanwhile, the BSE Sensex was down 52.01 points, or 0.19%, to 27,236.16.
On the BSE, so far 2.58 lakh shares were traded in the counter, compared with average daily volumes of 6.06 lakh shares in the past one quarter. The stock had hit a high of Rs 65.80 and a low of Rs 64.65 so far during the day.
The stock hit a 52-week high of Rs 88.65 on 18 August 2016. The stock hit a 52-week low of Rs 32.16 on 12 February 2016. The stock had outperformed the market over the past 30 days till 16 January 2017, rising 9.63% compared with the 3.01% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 14.61% as against Sensex's 2.72% decline.
The mid-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.
Crompton Greaves (CG) has won a significant order of $105 million (Rs 720 crore approximately) from PT PLN, the state-owned electricity company of Indonesia, to manufacture and install Power Transformers ranging from 30 MVA, 70/20kV to 500 MVA, 500/150kv. CG's power transformers will be installed across PT PLN's transmission network, spread over multiple substations and power plants in Java, Sumatra, Kalimantan, Sulawesi and the Papua islands of the Indonesian archipelago.
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The contract was secured through an open book bid that involves passing through stringent quality checks. The scope of the project includes site survey, design, manufacture, transportation and installation of the transformers.
On a consolidated basis, Crompton Greaves reported net loss of Rs 10.41 crore in Q2 September 2016 as against net profit of Rs 10.58 crore in Q2 September 2015. Net sales rose 4.61% to Rs 1495.16 crore in Q2 September 2016 over Q2 September 2015.
Crompton Greaves (CG) is a global leader in the management and application of electrical energy. CG provides end-to-end solutions that meet all electrical needs of its customers. CG's offerings include electrical products, systems and services for utilities, power generation and industries.
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