IGI Logo

Greaves Cotton is currently trading at Rs. 162.80, up by 4.40 points or 2.78% from its previous closing of Rs. 158.40 on the BSE.

The scrip opened at Rs. 161.50 and has touched a high and low of Rs. 166.90 and Rs. 157.90 respectively. So far 127452 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 181.25 on 31-Jul-2024 and a 52 week low of Rs. 112.50 on 04-Jun-2024.

Last one week high and low of the scrip stood at Rs. 170.70 and Rs. 153.45 respectively. The current market cap of the company is Rs. 3811.54 crore.

The promoters holding in the company stood at 55.88%, while Institutions and Non-Institutions held 4.92% and 39.19% respectively.

Greaves Cotton has received approval to subscribe equity shares of Greaves Electric Mobility (GEMPL), material subsidiary of the company, offered by way of rights issue, for a total amount aggregating approximately up to Rs 120 crore, in tranches and subject to the fulfilment of the terms and conditions. The proceeds from the further issue of shares will be utilized for the purpose of working capital & capex requirement, fund infusion in subsidiaries, and general corporate purposes.

Further, the company has also received approval to subscribe the equity shares of Greaves Finance (GFL), wholly owned subsidiary of the company, offered by way of rights issue for a total amount aggregating approximately up to Rs 38 crore. The proceeds from the further issue of shares shall be utilized by GFL towards capitalization of its borrowings.

The Board of Directors of Greaves Cotton at its meeting held on August 08, 2024 has inter-alia approved the same. 

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.