Greaves Cotton climbs over 4%; inks pact with Pinnacle Engines

Industrial machinery manufacturer, Greaves Cotton Limited has hit its record intraday high of Rs 164.95 per share higher by around 4.73% during the morning hour on Tuesday.

The company has recently signed a pact with Pinnacle Engines to grant a license for manufacturing and sale of internal combustion engines.

Greaves Cotton Ltd. is an Indian engineering company that manufactures engines and heavy equipment. The company’s net profit for the quarter ended March 31 2017 increased by around 6% on Q-o-Q basis to Rs 46.76 crore. The company is virtually debt free. It provided good dividend yield of 3.49% and has been maintaining healthy dividend payout of 57.73%.

Meanwhile, the major indices in the market are trading marginally lower in Wednesday’s trading session. Nifty was trading lower by 4 points at 9592 level and Sensex was trading lower by 18 points at 31,085 level in the morning hour.

Stock View:

Greaves Cotton Ltd is currently trading at Rs 163, up by Rs 5.8 or 3.69% from its previous closing of Rs 157.2 on the BSE.

The scrip opened at Rs 161 and has touched a high and low of Rs 164.65 and Rs 160 respectively. So far 441816(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3838.93 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 178 on 04-May-2017 and a 52 week low of Rs 115.2 on 26-Dec-2016. Last one week high and low of the scrip stood at Rs 159.55 and Rs 153 respectively.

The promoters holding in the company stood at 51 % while Institutions and Non-Institutions held 33.52 % and 15.47 % respectively.

The stock is currently trading above its 50 DMA.
Greaves Cotton Ltd
BSE 163.00 5.80    (3.69%)
NSE 162.90 5.15    (3.26%)

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