Crompton Greaves shares climb 7 percent

Bangalore: The Crompton Greaves stock was among the top gainers of the day, after its price went up by over seven percent following its quarterly results. After opening the day at Rs. 408, the stock touched an intra-day high of Rs. 429, before closing trade at Rs. 426.45, up 7.46 percent from its previous close. Through the day, 555,403 shares of Crompton Greaves were traded in the market, with the current P/E ratio of the stock at 33.50. The stock chart for 52-week is given on left. 

Crompton Greaves is an India-based company engaged in designing, manufacturing and marketing electrical products and services related to power generation, transmission and distribution, besides executing turnkey projects. The company announced that the consolidated net profit from ordinary activities after tax, minority interest and share of profit in associate companies for the third quarter ended December 31, 2009 grew to Rs. 199.64 crore in the same quarter last year. Total income grew to Rs. 2267.95 crore from Rs. 2158.60 crore in the same quarter last year.

On a standalone basis, the company's net profit after tax for the third quarter ended December 31, 2009 soared to Rs. 135.43 crore from Rs. 84.77 crore in the same quarter last year. The company recommended an interim dividend of 70 percent or Re. 1.40 per share for the year 2009-10. It also recommended issue of bonus shares in the ratio of three shares for every four shares of Rs. 2 each held. Out of the 17 analysts following the stock currently, the consensus recommendation is outperform. Reliance Diversified Power Sector Fund - Retail Plan holds the highest number of shares in the company with a total of 3,151,264 shares in its portfolio.