Shares of Crompton Greaves increased 3.8% to 248.75

Shares of heavy electrical devices manufacturer Crompton Greaves increased 3.8% to 248.75 on news that the company has obtained Sweden founded Emotron Group for 57 mln euros.

The investment of Emotron, which makes electrical devices such as VFD [ variable frequency drives] will empower Crompton Greaves to expose latest Variable Frequeny Drives technical in India. Investors hope the investment will empower Crompton to tap into India’s $375 mln Variable Frequency Drives market.

Experts said such foreign buyouts will assist the company balance out the slowness in the local transmission and distribution market. Experts said a number of the capital goods firms have increased capability, but don’t have the essential control book flows to utilise this.

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