Crompton Greaves Consumer Electricals to acquire land parcels adjacent to Butterfly's factory

The Board of Directors of Crompton Greaves Consumer Electricals Limited ("Crompton/the "Company") considered and approved, to enter into two separate agreements to acquire 9.12 acres of land from LLM Appliances Private Limited for a consideration of INR 63.00cr and 3.37 acres of land from Mr V. M. Balasubramaniam for a consideration of INR 22.00cr, located at Plot No. 143, Pudupakkam village, Vandalur Kelambakkam Road, Kelambakkam, Chengalpettu, Tamil Nadu - 603103 ("Land Parcels"), respectively. The consideration for each of the Land Parcels has been determined taking into account valuation reports dated February 18, 2022 issued by K. V. Venugopal, Registered Valuer. The said Land Parcels are located adjacent to the registered office of Butterfly Gandhimathi Appliances Limited ("Butterfly").

Shares of Crompton Greaves Consumer Electricals Limited was last trading in BSE at Rs. 378.60 as compared to the previous close of Rs. 393.75. The total number of shares traded during the day was 118453 in over 3889 trades.

The stock hit an intraday high of Rs. 394.65 and intraday low of 370.75. The net turnover during the day was Rs. 45354360.00.

Source : Equity Bulls

Keywords

CromptonGreavesConsumerElectricals INE299U01018 LandAcquisition