This Consumer Electricals company secured a pivotal work order for solar pump installations

Shares of the company closed the day in positive territory, with a gain of more than 1.30%

Crompton Greaves Consumer Electricals has won a major contract to supply, install, and commission solar submersible water pumping systems in Haryana under the Pradhan Mantri Kusum Scheme. The order is a significant milestone for the company, as it is the first major contract they have won under the scheme. The company is well-positioned to capitalize on this opportunity, as they have a strong track record in the solar pump industry. The PM Kusum Scheme is a government initiative to promote the use of solar energy in the agricultural sector, and the order from Haryana is a positive sign for the scheme.

Crompton Greaves Consumer Electricals is aiming to make a significant presence in the renewable energy segment by deploying a large number of solar pumps under the PM Kusum Scheme in the next two years. They will achieve this with the support of a wide network of after-sales service providers and technically qualified channel partners across India. The company's state-of-the-art R&D and manufacturing facilities, as well as a rigorous 5-stage product development process, have resulted in a wide range of highly energy-efficient and innovative solar water pumps.

The scrip opened today at Rs 309.90 and reached the day's high and low of Rs 314.00 and Rs 308.95, respectively. Its 52-week high stood at Rs 428.80, whereas its 52-week low was Rs 251.25. The current market cap of the company is Rs 20,056.13 crore. The Institutional and non-institutional holdings are 83.72 per cent and 16.30 per cent, respectively.

Crompton Greaves Consumer Electricals is a leading Indian consumer company with a long history dating back to over 75 years. It is an independent company under professional management, with two business segments: Lighting and Electrical Consumer Durables. The company markets its products under the “Crompton” brand name in India and select export markets.