Crompton Greaves shares gain 1.4% as Sensex rises

Shares of Crompton Greaves Consumer Electricals Ltd. traded 1.4 per cent higher in Wednesday's session at 10:41AM (IST). The stock opened at Rs 290.95 and has touched an intraday high and low of Rs 293.65 and Rs 290.05, respectively, during the session so far.

The stock quoted a 52-week high of Rs 428.8 and a 52-week low of 287.7. About 12,954 shares changed hands on the counter so far.

Benchmark Nifty50 was up 86.35 points at 17129.65, while the BSE Sensex traded 269.36 points higher at 58169.55 at the time of writing of this report.

In the Nifty pack, 39 stocks traded the day in the green, while 9 were in the red.


Key Financials
For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 1537.51 crore, down 10.5 per cent from the previous quarter's Rs 1717.8 crore and down 7.92 per cent from the year-ago quarter. The company reported net profit of Rs 85.25 crore for the latest quarter.

Promoter Holdings
Promoters held 2.54 per cent stake in the company as of 31-Dec-2022, while FIIs held 39.54 per cent and MFs 32.37 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 358.63 on March 15, while the 50-DMA was at Rs 316.78. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.