India's Greaves Cotton jumps on completing first stage of Excel Controlinkage deal

Greaves Cotton

10/05/2023 11:12

** Shares of Greaves Cotton Ltd  GRVL.NS  rise as much as
5.06% to 155.75 rupees, highest in nearly six months
    ** Stock ends 3.74% higher
    ** The engineering firm, which makes engines and heavy
equipment, completes first stage of acquisition of 60%
shareholding in cables and control levers maker Excel
Controlinkage Pvt 
    ** GRVL had announced on April 7, that it will complete the
acquisition of Excel Controlinkage in multiple tranches 
 urn:newsml:reuters.com:*:nFWN36933K
    ** Stock is most active in six months with a trading volume
of 6.78 mln shares as of markets close, six times the 30-day avg
- Refinitiv data
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))