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Crompton Greaves stock rises over 6% post block deal

Crompton Greaves stock rose up to 6.57% to Rs 283.05 against previous close of Rs 265.60

twitter-logoBusinessToday.In | September 15, 2020 | Updated 18:24 IST
Crompton Greaves stock rises over 6% post block deal
Crompton Greaves share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

Share of Crompton Greaves Consumer Electricals closed higher today amid reports that 28 lakh shares of the company changed hands in a block deal on BSE. The deal was worth Rs 79 crore and buyers and sellers in the trade were not known.

Crompton Greaves stock rose up to 6.57% to Rs 283.05 against previous close of Rs 265.60. The stock has gained 10.14% in the last 3 days. Crompton Greaves share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The share has gained 15% in one year and gained 15.23% since the beginning of this year. Later, the stock ended at Rs 275.85, up by Rs10.25 or 3.86% on BSE. The stock opened at Rs 269.85 and has touched a high and low of Rs 283.05 and Rs 269.85, respectively.

Total 0.37 lakh shares changed hands amounting to turnover of Rs 1.02 crore. Market cap of the firm rose to Rs 17,303 crore.

In Q1 of the current fiscal, the company reported a 39.41% fall in net profit to Rs 74.26 crore against Rs 122.57 crore in Q1 of June 2019. Revenue from operations declined 46.53% in Q1 June 2020 to Rs 720.1 crore against Rs 1346.84 crore in Q1 June 2019.

Profit before tax stood at Rs 101.01 crore in Q1, declining 46% year on year. Total tax expense slumped 60% to Rs 26.21 crore in Q1 June 2020 over Q1 June 2019.

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