Greaves Cotton zooms on exploring export opportunities for Ampere brand of electric two-wheelers
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Greaves Cotton is currently trading at Rs. 174.70, up by 3.05 points or 1.78% from its previous closing of Rs. 171.65 on the BSE.
The scrip opened at Rs. 173.00 and has touched a high and low of Rs. 176.65 and Rs. 172.55 respectively. So far 178223 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. 126.15 on 23-Aug-2021.
Last one week high and low of the scrip stood at Rs. 177.70 and Rs. 161.35 respectively. The current market cap of the company is Rs. 4053.51 crore.
The promoters holding in the company stood at 55.54%, while Institutions and Non-Institutions held 12.05% and 32.41% respectively.
Greaves Cotton is exploring export opportunities for its Ampere brand of electric two-wheelers bolstered by the recent investment from global investor Abdul Latif Jameel in the e-mobility arm. Greaves Electric Mobility is working on new products, both in two and three-wheeler segments, including on high-speed electric scooters, and may launch a few of them by the fiscal-end.
The Saudi Arabia-based family-owned diversified business Abdul Latif Jameel, which has presence across 30-odd countries, announced in June this year its commitment to invest $220-million in the Cotton Greaves' subsidiary. As part of the deal, it has initially invested $150-million (Rs 1,171-crore) for a 35.80 per cent stake in Greaves Electric Mobility.
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.
