Avantha group company Crompton Greaves (CG) was selected by eRDF - Electricite Reseau Distribution France, the public electricity distribution company managing 95% of electricity distribution network in continental France, as one of the six suppliers. The company will manufacture and supply the first three million of its new generation Linky smart meters.
"The contract is a very significant achievement for CG, a company that has built its competitive strategy in the development of smart grid solution, under ZIV brand, based on its own technology and a unique mix of knowledge in protection and control, communications and metering technologies," it said.
Shares of the company gained Rs 3.55, or 1.68%, to trade at Rs 215.20. The total volume of shares traded was 248,552 at the BSE (2.14 p.m., Monday).