Crompton Greaves Ltd's Promoter Group to sell portion of stake in consumer proudcts company

Crompton Greaves Ltd has already announced the proposal to demerge the Consumer Products undertaking into Crompton Greaves Consumer Products Limited on 16th October, 2014, after the decision of its Board of Directors. In continuation, one of the entities of the promoter group of the Company (Avantha Holdings Limited) is likely to sell a portion of its shareholding in the resultant company - Crompton Greaves Consumer Products Limited, subject to agreement of terms and conditions and execution of a definitive agreement.

The above is based on a communication to this effect received from Avantha Holdings Limited.

Shares of CROMPTON GREAVES LTD. was last trading in BSE at Rs.204.2 as compared to the previous close of Rs. 195.65. The total number of shares traded during the day was 914029 in over 17271 trades.

The stock hit an intraday high of Rs. 205.8 and intraday low of 196.9. The net turnover during the day was Rs. 185801283.

Source : Equity Bulls

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