Greaves Cotton rises on inking pact to acquire stake in Excel ControLinkage

Greaves Cotton is currently trading at Rs. 134.65, up by 1.20 points or 0.90% from its previous closing of Rs. 133.45 on the BSE.

The scrip opened at Rs. 135.60 and has touched a high and low of Rs. 135.95 and Rs. 134.00 respectively. So far 46630 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 210.75 on 11-Apr-2022 and a 52 week low of Rs. 118.70 on 14-Mar-2023.

Last one week high and low of the scrip stood at Rs. 136.30 and Rs. 126.25 respectively. The current market cap of the company is Rs. 3122.62 crore.

The promoters holding in the company stood at 55.54%, while Institutions and Non-Institutions held 9.25% and 35.21% respectively.

Greaves Cotton has entered into a definitive agreement for the multi-tranche acquisition of Excel ControLinkage. As part of the agreement, in the first tranche, the company will acquire 60% of the shareholding through a secondary route from the existing shareholders, subject to the fulfilment of customary closing conditions. Greaves Cotton, in February 2023, announced the signing of the binding term sheet to acquire a 100% stake through multiple tranches in Excel ControLinkage.

Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of over 160 years impacting a million lives every day.