Greaves Cotton up on investment of $183.6 mln in EVs

Greaves Cotton

11/01/2023 06:05

** Shares of  engines and engine applications maker Greaves
Cotton Ltd  GRVL.NS  rise as much as 4.4% to 138.6 rupees, its
biggest pct gain since Dec. 29, 2022
    ** GRVL says it has committed an investment worth 15 bln
rupees ($183.56 million) in electric vehicles and foraying into
e-powertrains
    ** More than 1.2 mln shares change hands by 11:15 a.m. IST,
vs 1.1x 30-day avg of 1.1 shares
    ** Analysts on average have a "strong buy" rating; median PT
is 199.5 rupees - Refinitiv data
    ** Stock had risen ~2% in 2022
($1 = 81.7150 Indian rupees)
 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))