Greaves Cotton shares jumped as much as 6.31 per cent on Monday after the company informed BSE that it has launched new range of farm equipment products under its ‘Sampurna Swadeshi’ programme at their manufacturing plant in Gummidipoondi near Chennai.
The scrip closed 1.49 per cent up at Rs 135.95.
Under this programme, Greaves Cotton’s R&D centre has developed exclusive products to meet highest standards of quality and reliability, equipped with features meticulously designed after detailed understanding of Indian farming requirements. The new range of products is powerful, fuel efficient and easy to maintain. They are also designed to be light weight and are easy to operate and can be comfortably operated by women, Greaves Cotton said.
For the quarter ended June 2015, the company posted net profit of Rs 43.34 crore, up 50.80 per cent, against Rs 28.74 crore in the corresponding quarter a year ago.
Greaves Cotton is a well-diversified engineering company. The company is engaged in the manufacturing of diesel and petrol engines, gensets, agro equipment, Aero Engines, Lightweight Engine and construction equipment.