Greaves Cotton jumps on planning to bring electric two-wheelers in mass, premium segments
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Greaves Cotton is currently trading at Rs. 142.60, up by 2.00 points or 1.42% from its previous closing of Rs. 140.60 on the BSE.
The scrip opened at Rs. 140.15 and has touched a high and low of Rs. 143.35 and Rs. 138.85 respectively. So far 68112 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 258.85 on 21-Jan-2022 and a 52 week low of Rs. 124.15 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 145.65 and Rs. 131.85 respectively. The current market cap of the company is Rs. 3306.72 crore.
The promoters holding in the company stood at 55.54%, while Institutions and Non-Institutions held 9.25% and 35.21% respectively.
Greaves Cotton is planning to bring electric two-wheelers both in the mass and premium segments going forward as it looks to enhance market share in the domestic market. Greaves Electric Mobility, the company's arm, has electric two-wheeler models Primus, Magnus EX and Reo Plus under the Ampere brand umbrella.
The company, which is showcasing its new Ampere Primus high-speed B2C e-scooter along with five new product concepts, including Ampere NXG and Ampere NXU, at the ongoing Auto Expo 2023, plans to launch electric scooters above and below the Rs 80,000 to Rs 1 lakh range where it currently sells its products.
Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of over 160 years impacting a million lives every day.
