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Stock Report
Crompton and Butterfly to continue as separate listed entities with a focus on strategic growth in the kitchen appliances segment
Posted On : 2023-11-02 09:36:05( TIMEZONE : IST )
Further to the voting results on the merger of, Crompton Greaves Consumer Electricals Ltd(Crompton) and Butterfly Gandhimathi Appliances Ltd (Butterfly), both the entities will continue to operate as separate individual listed entities. Both Crompton and Butterfly would continue to optimize various revenue and cost synergies by leveraging the distinctive strengths of each company within the kitchen appliances segment. While the merger will not proceed, there are currently no plans to reinitiate it and thereby Crompton and Butterfly will continue to operate independently, reinforcing their strong market positions and strategies.
The strategy in kitchen appliances segment will encompass both the 'Crompton' and 'Butterfly' brands, with the expectation of delivering significant growth over the next few years. This initiative offers shareholders of both companies an opportunity to participate in the long-term growth and value creation.
Under Crompton's 2.0 strategy, the company remains strongly positioned in core categories such as Fans, Residential Pumps, Water Heaters, Air Coolers, and more. This has solidified its position as a market leader, well-poised to capitalize on future growth opportunities in these segments.
Shares of Butterfly Gandhimathi Appliances Limited was last trading in BSE at Rs. 1084.10 as compared to the previous close of Rs. 1088.10. The total number of shares traded during the day was 333 in over 112 trades.
The stock hit an intraday high of Rs. 1110.00 and intraday low of 1080.00. The net turnover during the day was Rs. 362690.00.
Shares of Crompton Greaves Consumer Electricals Limited was last trading in BSE at Rs. 276.45 as compared to the previous close of Rs. 281.95. The total number of shares traded during the day was 25892 in over 1058 trades.
The stock hit an intraday high of Rs. 283.00 and intraday low of 275.50. The net turnover during the day was Rs. 7220653.00.
