Greaves Cotton Climbs Over 4% Inks Pact With Pinnacle Engines

Industrial machinery manufacturer, Greaves Cotton Limited has hit its record intraday high of Rs 164.95 per share higher by around 4.73% during the morning hour on Tuesday.

The company has recently signed a pact with Pinnacle Engines to grant a license for manufacturing and sale of internal combustion engines.

Greaves Cotton Ltd. is an Indian engineering company that manufactures engines and heavy equipment. The company’s net profit for the quarter ended March 31 2017 increased by around 6% on Q-o-Q basis to Rs 46.76 crore. The company is virtually debt free. It provided good dividend yield of 3.49% and has been maintaining healthy dividend payout of 57.73%.

Meanwhile, the major indices in the market are trading marginally lower in Wednesday’s trading session. Nifty was trading lower by 4 points at 9592 level and Sensex was trading lower by 18 points at 31,085 level in the morning hour.

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