Crompton Greaves stock up 3%

The stock has hit a high of Rs. 189 and a low of Rs. 181.

Shares of Crompton Greaves Ltd was up 3% at Rs 184 after Board of Directors of the Company at its meeting held on February 19, 2015 based on comments received from the SEBI, the Stock Exchanges and investors’ feedback, has evaluated salient aspects of the Scheme of Arrangement with respect to demerger of the Consumer Products business of the Company.

The stock has hit a high of Rs. 189 and a low of Rs. 181.

Total traded quantity on the counter stood at over 7.31 lk shares.

The Board has now reconsidered and approved the contours of the proposed demerger and decided to implement a 100% demerger of the Consumer Products business, such that the shareholding pattern of the Resulting Consumer Company shall mirror the shareholding pattern of CG