Crompton Greaves share rallies on reports of stake in company by Hitachi

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Crompton Greaves share rallies on reports of stake in company by Hitachi
Shares in Crompton Greaves have rallied almost 2 per cent after reports that Hitachi may pick a stake in the company.

The Economic Times reported that Hitachi, the Japanese maker of industrial power equipment and electronic goods, has emerged as the front-runner to buy the promoter's stake in Crompton Greaves, a power transmission and distribution company owned by billionaire Gautam Thapar, two persons familiar with the development said.
Hitachi, presently sells refrigerators and air conditioners in the Indian markets and a stake in Crompton would increase its footprint in India.

Crompton Greaves has a unique and diverse portfolio that includes transformers, switchgear, circuit breakers, network protection & control gear, project engineering, HT and LT motors, drives, lighting, fans, pumps and consumer appliances and turnkey solutions in all these areas; thus enhancing the many aspects of industrial and personal life. This portfolio has been structured into 3 SBUs - Power Systems, Industrial Systems and Consumer Products.

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Story first published: Wednesday, April 16, 2014, 10:25 [IST]
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