Crompton Greaves shares plunge on weak earnings show

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February 3, 2023
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Shares of Crompton Greaves Consumer Electricals have fallen 12% in the past one month.

Crompton Greaves

Shares of Crompton Greaves Consumer Electricals plunged on February 3 as the company’s weak set of earnings for the December quarter dented investor sentiment.

The scrip traded 8.30 percent lower at Rs 304.75 on the National Stock Exchange at 09.48 am. The decline in the stock was also accompanied by strong volumes that were higher than the 20-day daily traded average volumes.

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In the wake of weak sales from core segments like electrical consumer durables and lighting, revenues from Butterfly Gandhimathi Appliances, which the company had acquired last year helped support the 7.5 percent on year growth in its topline.

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