Greaves Cotton up 4% on partnership with Altigreen Propulsion Labs

Moneycontrol News

Shares of Greaves Cotton rose 4.6 percent intraday Wednesday as it has entered into strategic partnership with Altigreen Propulsion Labs.

The partnership aims to provide a range of clean energy powertrain solutions for 3-wheeler and micro 4-wheeler commercial vehicles.

The alliance will be kick-started with a launch of a unique offering of Altigreen's HyPixi - a low cost partial electrification solution for retro-fitment on current fossil-fuel based vehicles.

The solution will help deliver significantly improved fuel efficiency and reduced emissions, hence providing un-matched total cost of ownership to the last mile transportation segment.

Nagesh Basavanhalli, MD and CEO of Greaves Cotton said, "This partnership allows us to address the core issue of reduction in carbon load in the atmosphere, along with providing a cost effective greener solution to our customers."

At 10:43 hrs Greaves Cotton was quoting at Rs 136.85, up Rs 2.45, or 1.82 percent on the BSE.