Crompton Greaves rises as its unit bags contract to supply 750,000 smart meters to GNF

Crompton Greaves is currently trading at Rs 214.85, up by 1.40 points or 0.66% from its previous closing of Rs 213.45 on the BSE. The scrip opened at Rs 215.40 and has touched a high and low of Rs 217.30 and Rs. 214.30 respectively. So far 110665 shares were traded on the counter. The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 215.75 on 09-Jun-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. 215.75 and Rs. 198.00 respectively. The current market cap of the company is Rs. 13428.14 crore. The promoters holding in the company stood at 42.67% while Institutions and Non-Institutions held 42.47% and 14.64% respectively. Avantha Group Company, Crompton Greaves’ Automation Business Unit has been awarded a significant contract for supply of 750,000 smart meters from the Spanish utility Gas Natural Fenosa (GNF) and will be one of its main smart meter suppliers for the next two years. ZIV single phase smart meters will cover a large part of the demand for domestic meters from GNF. The Automation unit will also be supplying nearly 20,000 three-phase meters and is now participating in a significant tender for DCUs (Data Concentrator Units). ZIV’s 4CTT model is nowadays the reference DCU in the market after becoming the first model certified by the PRIME alliance last year and having proven a robust performance onsite. After acquiring ZIV, Crompton Greaves is the key provider of smart meters and an important player in the global smart grid market where it offers ZIV meters, data concentrator units (DCU) and distribution automation solutions (DAS). A significant advantage for Crompton Greaves in the Spanish market has been the regulatory framework in the country which makes it mandatory that 70 percent of the analog meters are replaced by 2016 and 100 percent by 2018. Crompton Greaves (CG) 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.