Crompton Greaves stock up 2% after bagging orders from 3 states

Shares of Crompton Greaves Consumer Electrical advanced 2.5 percent in the morning trade on March 15 after the company announced nagging orders from Maharashtra, Haryana and Rajasthan

The company will supply, install, test and commission solar photovoltaic water pumping system (SWPS) under the PM-KUSUM scheme.

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In Haryana, the company received an order for 193 SWPS with a total work order value of Rs 9.16 crore. In Maharashtra, it received an order intake of 2000 SWPS, a deal worth Rs 50.15 lakh crore. Rajasthan has ordered 1,000 SWPS for Rs 20 crore.

All orders have to be completed within 120 days, the company said in a regulatory filing on March 14.

In the December quarter, Crompton Greaves Consumer Electricals recorded a 3 percent decrease in consolidated net profit at Rs 85 crore, However, revenue was up 12 percent at Rs 1,693 crore.

Crompton Greaves Consumer Electricals manufactures and markets a range of products such as fans, lamps and luminaries to pumps and household appliances such as water heaters, coolers, mixer grinders and irons.

At 9:50 am, the stock was trading at Rs 281 on the National Stock Exchange, up a percent from the previous close. In the past three months, the stock has declined 3.1 percent.

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