Crompton Greaves jumps on demerger proposal

Jul 17 2014, 11:34 IST
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SummaryCrompton Greaves has proposed to demerge its consumer products business unit into separate listed company.

Shares in Indian power equipment maker Crompton Greaves jump 10.3 per cent after proposing to demerge its consumer products business unit into a separate listed company, the company said in a statement on Thursday.

"Demerger would result in the consumer business being accorded a higher multiple than the entire parent company. Peers in electrical consumer business trade at a higher multiple as compared to Crompton Greaves," said IIFL Capital in a note to its clients.

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