Crompton Greaves has moved higher by 4% at Rs 134 after the company said that its promoters have released nearly seven million pledge shares lying with lenders.
The stock opened at Rs 133 and touched a high of Rs 135, also its 52-week high on BSE. A combined 3.54 million shares have changed hands on the counter so on the BSE and NSE.
“Avantha Holidings, the promoters have released 6.92 million shares ore nearly 1% of its holding which were pledge with various lenders,” Crompton Greaves said in a disclosure to the BSE.
At the end of September quarter, the promoters held 267 million total shares or 42.57% stake in Crompton Greaves, out of which 183 million shares or 68.26% were pledged.
Meanwhile, the stock has outperformed the market by surging over 25% in past one month compared to 3.1% rise in benchmark S&P BSE Sensex.
The stock opened at Rs 133 and touched a high of Rs 135, also its 52-week high on BSE. A combined 3.54 million shares have changed hands on the counter so on the BSE and NSE.
“Avantha Holidings, the promoters have released 6.92 million shares ore nearly 1% of its holding which were pledge with various lenders,” Crompton Greaves said in a disclosure to the BSE.
At the end of September quarter, the promoters held 267 million total shares or 42.57% stake in Crompton Greaves, out of which 183 million shares or 68.26% were pledged.
Meanwhile, the stock has outperformed the market by surging over 25% in past one month compared to 3.1% rise in benchmark S&P BSE Sensex.
