CG Consumer Electricals gains on buzz of Kenstar deal

The stock of CG Consumer Electricals rallied during Friday’s trade.

Oct 06, 2017 11:10 IST India Infoline News Service

The stock of CG Consumer Electricals rallied during Friday’s trade after the company competed in the final leg of the race to acquire Kenstar, reported a leading business daily.

CG Consumer and PE fund Everstone Capital have submitted binding offers and are in negotiations with Videocon to enter into exclusive talks. CG Consumer has placed its bid at Rs 1,400 crore, Everstone Capital has offered Rs 1,300 crore.
 
Meanwhile, the stock of CG Consumer gained 2.64% at Rs 221.40 per share on BSE attracting a total traded quantity 0.17 lakh shares at 1048 hours. The stock on yearly basis has given 27.93% returns and has underperformed BSE Consumer Durables and outperformed BSE Midcap index.
 
Crompton Greaves Consumer Electricals Limited manufactures and markets a range of consumer products. The Company’s main products/services include lighting products (luminaries and light sources) and electrical consumer durables (fan and appliances and pumps). It operates through two segments: Lighting Products and Electrical Consumer Durables. 

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