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Crompton Greaves is trading higher by 1% to Rs 193 on NSE in otherwise subdued market after the company announced that has entered into a memorandum of understanding (MoU) with French enterprise Arelis that specialises in design and manufacturing of high-tech electronic solutions.
As per the agreement, two companies will explore opportunities to manufacture and supply hybrid microelectronics for high mix-mid volume market and for high runner microelectronics hybrids markets for aerospace and defence, energies, utilities and telecommunication sectors, Crompton Greaves said in a statement.
With the technology transfer from Arelis on hybrid microelectronics, Crompton Greaves will be able to indigenously manufacture the components and sub-assemblies for Indian and global markets, it added.
The stock opened at Rs 194 and touched high of Rs 195 on NSE. Till 1020 hours, a combined 1.2 million shares changed hands on the counter on NSE and BSE.
As per the agreement, two companies will explore opportunities to manufacture and supply hybrid microelectronics for high mix-mid volume market and for high runner microelectronics hybrids markets for aerospace and defence, energies, utilities and telecommunication sectors, Crompton Greaves said in a statement.
With the technology transfer from Arelis on hybrid microelectronics, Crompton Greaves will be able to indigenously manufacture the components and sub-assemblies for Indian and global markets, it added.
The stock opened at Rs 194 and touched high of Rs 195 on NSE. Till 1020 hours, a combined 1.2 million shares changed hands on the counter on NSE and BSE.
