Crompton Greaves shares drop 0.01% as Sensex falls

Shares of Crompton Greaves Consumer Electricals Ltd. traded 0.01 per cent lower in Wednesday's session at 10:20AM (IST). The stock opened at Rs 306.95 and has touched an intraday high and low of Rs 306.95 and Rs 301.6, respectively, during the session so far.

The stock quoted a 52-week high of Rs 416.85 and a 52-week low of 251.25. About 13,709 shares changed hands on the counter so far.

Benchmark Nifty50 was down 135.8 points at 19392.95, while the BSE Sensex traded 462.34 points lower at 65049.76 at the time of writing of this report.

In the Nifty pack, 8 stocks traded the day in the green, while 42 were in the red.


Key Financials
For the quarter ended 30-Jun-2023, the company reported consolidated sales of Rs 1896.65 crore, up 4.92 per cent from the previous quarter's Rs 1807.73 crore and up 1.24 per cent from the year-ago quarter. The company reported net profit of Rs 118.35 crore for the latest quarter.

Promoter Holdings
Promoters held 2.54 per cent stake in the company as of 30-Jun-2023, while FIIs held 35.0 per cent and MFs 37.49 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 299.24 on October 04, while the 50-DMA was at Rs 300.13. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.