Crompton Greaves in the limelight
By
Research Desk
about 9 years ago
Crompton Greaves is in the limelight today. The stock is up almost 3% at Rs.181 with an intra day high and low at Rs.184.25 and Rs.175.30 respectively. Volumes are up over three times.
The stock is up, reacting to the company signing an important global supply agreement with cement major Lafarge for electrical motors. This agreement positions Crompton Greaves as one of the select few preferred global suppliers for Lafarge. With over 40,000 CG-made motors running in various cement factories, CG is one of the major motor suppliers to the cement industry.
The company says that this agreement is a perfect fit for both the companies to leverage the growing demand in infrastructure the world over.