Crompton Greaves (CG), an engineering firm, has bagged a significant order from Power Grid Corporation of India (PGCIL) for the supply of 80 MVAR 765kv shunt reactors valued at Rs 1.15 billion.

The scope of this contract to be executed in 20 months includes design, engineering, manufacture, shop testing, supply erection testing and commissioning at site and other associated civil works.

Avantha group company CG's CEO & MD, Laurent Demortier, said, "We are honoured to receive this opportunity from PGCIL and thankful to them for continuing to repose trust in our products and technological expertise. As rapid urbanisation and industrialisation adds millions of new consumers in the country, a robust UHV infrastructure will be the backbone of the power sector and CG is well positioned to serve the utilities for their future growth plan with its complete UHV range.''

Shares of the company gained Rs 2.15, or 1.31%, to trade at Rs 166.00. The total volume of shares traded was 50,964 at the BSE (11.37 a.m., Monday).