Crompton Greaves gains on report of Hitachi eyeing stake

Crompton Greaves is currently trading at Rs. 180.65, up by 2.40 points or 1.35% from its previous closing of Rs. 178.25 on the BSE. The scrip opened at Rs. 182.15 and has touched a high and low of Rs. 188.00 and Rs. 180.35 respectively. So far 597841 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 188.00 on 16-Apr-2014 and a 52 week low of Rs. 71.70 on 25-Jun-2013. Last one week high and low of the scrip stood at Rs. 188.00 and Rs. 152.00 respectively. The current market cap of the company is Rs. 11449.62 crore. The promoters holding in the company stood at 42.67% while Institutions and Non-Institutions held 42.47% and 14.64% respectively. Crompton Greaves’ promoter is planning to sell stake in the company. Hitachi, the Japanese maker of industrial power equipment and electronic goods, has emerged as the front-runner to buy the promoter’s stake in the power transmission and distribution company promoted by Gautam Thapar. Moreover, the promoters have appointed Goldman Sachs to scout for a buyer Crompton Greaves is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers.