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Crompton Greaves shares gained after the company said it had sold its overseas T&D business for $126 million.
At 10.50 am, the shares were quoting at Rs 145.85, up Rs 6.30 or 4.51 per cent. In early trade, it had hit an intra-day high Rs 151.80, the highest since February 3.
The power equipment maker has sold its overseas transmission & distribution (T&D) business to US-based private equity fund First Reserve International for 115 million euros ($126.12 million).
The sale will enable the company to reduce debt and focus on faster growing Indian businesses.
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