Crompton Greaves Consumer Electricals surges on securing landmark solar pumps work order
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Crompton Greaves Consumer Electricals is currently trading at Rs. 313.40, up by 4.15 points or 1.34% from its previous closing of Rs. 309.25 on the BSE.
The scrip opened at Rs. 309.90 and has touched a high and low of Rs. 314.00 and Rs. 308.95 respectively. So far 119336 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 428.80 on 13-Sep-2022 and a 52 week low of Rs. 251.25 on 26-Apr-2023.
Last one week high and low of the scrip stood at Rs. 314.00 and Rs. 299.45 respectively. The current market cap of the company is Rs. 20006.25 crore.
The Institutions holding in the company stood at 83.71%, while Non-Institutions held 16.29% in the company.
Crompton Greaves Consumer Electricals has secured a landmark solar pumps work order under the esteemed PM Kusum Scheme for the state of Haryana. The company has been granted the inaugural work order of supplying, installing, and commissioning of 7.5 HP and 10 HP Solar Submersible Water Pumping Systems by the New & Renewable Energy Department Haryana and HAREDA. This milestone is part of a broader initiative led by SECI (Solar Energy Corporation of India) and MNRE (Ministry of New & Renewable Energy), aiming to replace and establish new connections for 6.6 lakh pumps across India.
With an aim to create significant footprints in the renewable energy segment, the company is aiming to deploy a significant number ofsolar pumps under PM Kusum Scheme in the next 2 years, supported by a wide spread after sales service network and technically qualified channel partners across India. This is achieved through state of the art R&D and manufacturing facilities and a rigorous 5-stage product development process, resulting in a wide range of highly energy-efficient and innovative solar water pumps.
Crompton Greaves Consumer Electricals manufactures and markets a wide spectrum of consumer products ranging from fans, light sources and luminaires, pumps and household appliances, such as geysers, mixer grinders, toasters and irons.
