India's Greaves Cotton up 5% after unit lauches EV financing platform

Greaves Cotton

05/06/2023 08:11

** Shares of Greaves Cotton Ltd  GRVL.NS  rise as much as
5.12% to 137.50 rupees
    ** Co said its non-banking financial companies (NBFC) unit
Greaves Finance Ltd has introduced a financial platmform - evfin
- for 'electric vehicle (EV) financing and beyond'
    ** "evfin is India's first consumer finance technology
platform fully dedicated to electric mobility and other
sustainable solutions," said Sandeep Divakaran, CEO of Greaves
Finance 
    ** More than 3.1 mln shares change hands by 12:27 p.m. IST,
1.2x 30-day avg of 2.65 mln shares
    ** All 5 analysts covering the stock have a "buy" or "strong
buy" rating; median PT is 191 rupees - Refinitiv data
    ** Stock down 6.7% YTD, as of last close


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