Crompton Greaves rose 0.6% to Rs 183.40 at 15:12 IST on BSE after the company said it has secured orders worth Rs 300 crore from Power Grid, for supply, erection, testing and commissioning of power transformers at various substations across India.
The announcement was made during market hours today, 13 August 2015.
Meanwhile, the S&P BSE Sensex was up 29.47 points or 0.11% at 27,541.73.
On BSE, so far 2.05 lakh shares were traded in the counter as against average daily volume of 3.35 lakh shares in the past one quarter.
The stock was volatile. The stock rose as much as 3.7% at the day's high of Rs 189.05 so far during the day. The stock lost as much as 0.43% at the day's low of Rs 181.50 so far during the day. The stock had hit a 52-week high of Rs 231 on 10 September 2014. The stock had hit a 52-week low of Rs 153.10 on 9 February 2015.
The stock had underperformed the market over the past one month till 12 August 2015, declining 2.23% compared with Sensex's 0.54% fall. The scrip had, however, outperformed the market in past one quarter, surging 10.48% as against Sensex's 2.36% rise.
The large-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.
Meanwhile, Crompton Greaves after market hours yesterday, 12 August 2015 said that consequent to the certain unresolved disputes arising out of the Distribution Franchisee Agreement (DFA) of the company with Maharashtra State Electricity Distribution Company (MSEDCL) at Jalgoan in Maharashtra, MSEDCL has exercised its step in rights and taken over the Distribution Franchisee in Jalgoan from the company with effect from 12 August 2015. The company has approached MSEDCL for resolution of the disputes under the provisions of the DFA, Crompton Greaves said.
On consolidated basis, Crompton Greaves' net profit dropped 75% to Rs 16.01 crore on 8% decline in net sales to Rs 3165.80 crore in Q1 June 2015 over Q1 June 2014.
Avantha Group company Crompton Greaves is a global pioneering leader in the management and application of electrical energy. The company provides electrical products, systems and services for utilities, power generation, industries, and consumers. The company is organized into four business groups viz. power, industrial, automation and consumer.
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