Crompton stock rises after electric motor contract

APEX series motor from Crompton Greaves.  -Photo by Crompton Greaves

APEX series motor from Crompton Greaves. -Photo by Crompton Greaves

Crompton Greaves (CG), the Indian manufacturer of power transmission and generation products, is having a good week. Yesterday its parent Avantha Group Company CG signed a global supply agreement with French cement provider Lafarge for electrical motors. CG has been providing the cement industry with electric motors for various applications, including unique construction of slip-ring, twin drive slip-ring and double squirrel cage motors.

As a result of the agreement, CG shares were up nearly 4% at Rs 183 today. Driven by the rise of infrastructure and housing, total world production of cement is expected to be around 4.4 billion metric tons in 2020, according to Statista.

-Bill O’Leary

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