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


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.

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