Crompton Greaves has surged 4% to Rs 140 on the BSE, rebounding 8% from intra-day low, after a huge block deals were executed in the counter. The stock hit an intra-day low of Rs 130 so far.
Till 11:16 AM, a combined 18.6 million equity shares representing 2.97% of total equity of Crompton Greaves changed hands on the BSE and NSE.
The name of the buyers and sellers are not immediately ascertained.
Meanwhile, the board of directors of the company is schedule to meet today, February 25, 2016, to fix the record date for the purpose of reckoning names of the equity shareholders of the company entitled to receive shares of Crompton Greaves Consumer Electricals Limited - the resulting company, pursuant to the scheme of demerger approved by the Hon’ble High Court of Bombay.