The Hindu Business Line : Buying interest lifts Crompton Greaves

According Mr Ketan Thacker, an analyst with moneypore.com, the sentiment in the counter is positive because of the proposed power sector reforms, expected to be initiated by the Centre shortly.

He also pointed out that the rating agency Fitch India has recently retained its rating of highest credit quality of F1 for the company's Rs 30-crore commercial paper. Last month, Crompton Greaves issued a confirmation that it was launching voice over Internet protocol (VoIP) solutions in collaboration with an Israeli company, Mr Thacker added.

The company is one of the largest players in the country in the electrical equipment and engineering industry. At the current market price, the stock is trading at 8.5 times its nine-month's annualised earnings per share of Rs 9.10. The company's financial restructuring drive to reduce debt is likely to pay dividend, market players expected.

The stock today closed at Rs 59.30 (Rs 58.30), after touching a day's peak of Rs 62.70 on the BSE. Its 52-week high is Rs 64. Traded volumes in the counter more than doubled today on the BSE. It recorded a traded figure of 2.48 lakh shares (1.22 lakh) shares on the BSE and 2.64 lakh (1.95 lakh) shares on the NSE. Of the traded shares, 26.32 per cent was up for delivery on the BSE.

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