Greaves Cotton zooms on collaborating with Eta Green Power
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Greaves Cotton is currently trading at Rs. 141.45, up by 3.45 points or 2.50% from its previous closing of Rs. 138.00 on the BSE.
The scrip opened at Rs. 138.15 and has touched a high and low of Rs. 142.65 and Rs. 138.15 respectively. So far 57981 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 226.00 on 03-Feb-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. 148.50 and Rs. 136.45 respectively. The current market cap of the company is Rs. 3284.72 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 strengthening its commitment to build a complete EV ecosystem stack for last-mile passenger and cargo mobility with ‘Made in India’ electric powertrain solutions, underpinned by global technology. Greaves has collaborated with Eta Green Power, an advanced electric drive system design company based in the UK, to have exclusive rights to their technology in the Indian 2-wheelers and 3-wheelers market. The e-powertrain suite will be manufactured at the Aurangabad plant with a high degree of component localization.
Greaves and Eta Green Power will jointly bring technology pertaining to motors, and motor controllers with integrated battery chargers for electric 2-wheelers and 3-wheelers. This partnership will help deliver superior performance and reliability in a cost-effective manner to speed up the mass market adoption in both electric 2-wheeler and 3-wheeler segments. First off-the-block will be motor-controllers and integration software for electric two and three-wheelers.
With technology as a key differentiator, the e-powertrain suite will sport a high degree of ‘Make in India’ components and will be characterized by cutting-edge design, engineering, materials chemistry, weight, and aesthetics, that will be customized to the needs of different OEM customers. It will use software to reduce variability for better safety, regulation conformity, design, and value proposition. Each product will continue to represent the company's ‘Make in India’ commitment, with a high level of localization and components obtained domestically.
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.
