India's Greaves Cotton jumps on govt approving registration of 2-wheeler models

Greaves Cotton

09/09/2024 11:01

** Shares of engineering firm Greaves Cotton  GRVL.NS  rise
as much as 7.1% to 177 rupees
    ** Co says India's Ministry of Heavy Industries has approved
the registration of four 2-wheeler models of Greaves Electric
Mobility (GEMPL) under the electric mobility promotion scheme
    ** Adds approval makes GEMPL eligible for India's EV demand
incentive scheme
    ** More than 7 mln shares traded, 1.8x the 30-day avg
    ** Stock last up 5.6%, bumping YTD gains to 14.9%

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))