Crompton rises 4% on electrical motors order from French co

Moneycontrol Bureau

Investors are lapping up shares of Crompton Greaves Wednesday on getting electric motors supply contract from the cement major based in French. The stock rallied 4.4 percent intraday.

"Crompton has signed a global supply agreement with cement major Lafarge for electric motors," said the electrical energy company in its filing to the exchange.

Crompton is going to support Lafarge (which is specialised in three major products: cement, construction aggregates, and concrete) wherever its operations are located.

For decades now, the company has been providing the cement industry with electric motors for various applications, including unique construction of slip-ring, twin drive slip-ring and double squirrel cage motors. Electric motors boost process reliability to enable manufacturing plants to increase their output, enhance product quality and reduce energy consumption and carbon emissions.

"This global supply agreement is a perfect fit for both the companies to leverage the growing demand in infrastructure the world over," said CEO and Managing Director, Crompton.

At 10:06 hours IST, the scrip of Crompton Greaves was quoting at Rs 183.55, up Rs 7.05, or 3.99 percent amid high volumes on the BSE.