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04-Oct2017

Greaves Cotton surges on entering into partnership with Altigreen Propulsion Labs

Greaves Cotton is currently trading at Rs. 137.45, up by 3.05 points or 2.27% from its previous closing of Rs. 134.40 on the BSE.

The scrip opened at Rs. 136.20 and has touched a high and low of Rs. 140.55 and Rs. 136.20 respectively. So far 16556 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 178.00 on 04-May-2017 and a 52 week low of Rs. 115.20 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 140.55 and Rs. 133.50 respectively. The current market cap of the company is Rs. 3355.40 crore.

The promoters holding in the company stood at 51.00%, while Institutions and Non-Institutions held 34.05% and 14.95% respectively.

Greaves Cotton has entered into a strategic partnership with US & Bengaluru based start-up - Altigreen Propulsion Labs. The partnership aims to provide a range of clean energy powertrain solutions for the 3-wheeler and micro 4-wheeler commercial vehicles.

This alliance will be kick-started with the launch of a unique offering of Altigreen's HyPixi - a low cost partial electrification solution for retro-fitment on current fossil-fuel based vehicles. The solution will help deliver significantly improved fuel efficiency and reduced emissions, hence providing un-matched total cost of ownership to the last mile transportation segment.

Greaves Cotton, a Rs 1800 crore, multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in diesel/ petrol engines, farm equipment and Gensets.


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