Crompton Greaves leaps after good Q2 show

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FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
TO EXPAND PANTNAGAR CAPACITY TO 70,000 UNITS IN NEXT FEW MONTHS
AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN
AKER BAGGED SUB SEA PRODUCTION ORDER FROM RIL IN 2006 ALSO
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS
PORTING CHARGES TO BECOME APPLICABLE FROM DECEMBER 31, 2009
MNP ALLOWS USERS TO CHANGE OPERATORS WHILE RETAINING MOBILE NOS
USERS TO PAY MAX OF RS.19 TO CHANGE OPERATOR WHILE RETAINING OLD NUMBER
TRAI COMES OUT WITH NUMBER PORTABILITY CHARGES
PUNJAB NATIONAL BANK PLANS TO RAISE RS 700 CR BY SELLING BONDS
TATA TELE-QUIPPO OFFERING BETTER SERVICING DEAL FOR TOWERS: SOURCES
GTL BID 10-15% HIGHER THAN TATA-QUIPPO: SOURCES
DEAL VALUED AT AROUND RS.6000 CR : SOURCES
MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)

Updated: 29/10/2009 | 12:00 AM IST

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Capital Market

Thursday, October 29, 2009 (New Delhi)

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Meanwhile, the BSE Sensex was down 182.10 points, or 1.12%, to 16,101.39.

On BSE, 5.06 lakh shares were traded in the counter as against an average daily volume of 1.49 lakh shares in the past one quarter.

The stock hit a high of Rs 381.70 and a low of Rs 352.40 so far during the day. The stock had hit a 52-week high of Rs 378.70 on 20 October 2009 and a 52-week low of Rs 99.70 on 25 March 2009..

The stock had outperformed the market over the past one month till 28 October 2009, rising 14.14% as compared to the Sensex 2.45% fall. It outperformed the market in past one quarter, gaining 21.17% as against 6.21% rise in the Sensex.

The large-cap electrical products manufacturer has an equity capital of Rs 73.31 crore. Face value per share is Rs 2.

The current price of Rs 371.90 discounts the company's Q2 September 2009 annualised EPS of Rs 14.85, by a PE multiple of 25.04.

The result was announced at the fag end of the trading sessions on Tuesday, 27 October 2009, when the stock closed 0.27% higher at Rs 339.30 in a weak market. The stock had risen 6.35% to Rs 360.85 on Wednesday, 28 October 2009.

Crompton Greaves' net profit rose 47.1% to Rs 136.10 crore on a 16.8% increase in sales to Rs 1268.56 crore in Q2 September 2009 over Q2 September 2008.

On a consolidated basis, the net profit jumped 61% to Rs 193.37 crore on a 4.7% increase in total income to Rs 2204.35 crore in Q2 September 2009 over Q2 September 2008. The company declared an interim dividend of 80 paise per share of face value of Rs 2 each.

On 4 September 2009, Crompton Greaves' subsidiary, Pauwels Trafo Belgium NV signed a pact with the EIC Group of Saudi Arabia, for establishing a joint venture company (JVC) for manufacture of medium power transformers in Saudi Arabia. Pauwels Trafo Belgium NV will hold 51% stake in JVC and EIC Group will hold the rest 49%.

Crompton Greaves is engaged in providing power systems, consumer products and industrial systems.

Promoters have pledged more than 2.19 crore shares representing 6% of the equity capital of the company. The total promoter shareholding in the company is 40.98% (as on 30 June 2009).

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