Crompton Greaves Ltd (CROM.NS)
** Shares of power equipment maker Crompton Greaves may gain on new scheme of demerger of its consumer business ** Shareholding pattern of the resulting consumer company will mirror that of Crompton Greaves, the company said in a statement ** Crompton had earlier planned to hold 25 pct stake in the consumer business with 3 years lock-in ** New scheme is favourbale for minority shareholders - Analysts ** It removes worries of holding company discount and opens possibilities of
MUMBAI - Power equipment maker Crompton Greaves Ltd's board has approved the proposed demerger of its consumer products business, the company said on Thursday.
MUMBAI, Feb 19 - Indian power equipment maker Crompton Greaves Ltd's board has approved the proposed demerger of its consumer products business, the company said on Thursday.
** Signs agreement with France's Arelis to jointly manufacture electronics components for aerospace and defence sector
** HSBC upgrades Crompton Greaves to "overweight" from "neutral" and raises target to 226 rupees from 220 rupees
** Promoter Avantha Holdings bought 0.68 pct stake in Crompton Greaves in a block deal on Monday - NSE ** Crompton trades at 20.3x of 1-yr forward earnings vs 29.1x of rivals- Reuters data ** Company on Monday raised its FII investment limit to 100 pct of paid-up capital ** Intellect Design Arena shares may gain after promoter raises stake by 1.87 pct in multiple block deals - NSE ** Intellect is a spin-off from Polaris and houses group's BFSI product business ($1 = 63.2150
Reuters Market Eye - Crompton Greaves Ltd jumps 6.2 percent and Tree House Education and Accessories gains 3.8 percent.
(Starting on Mon, Dec. 22, our MARKET EYES for stocks will be renamed as BUZZ in line with global editorial changes)
Reuters Market Eye - Bank of America Merrill Lynch expects capex revival for India.
Reuters Market Eye - Crompton Greaves gains 2 pct after it seeks shareholders' nod to raise foreign portfolio investment limit to 100 pct from 24 pct.