Greaves Cotton rallies 6% on heavy volumes; stock nears 52-week high

Greaves Cotton shares rallied 6 per cent to Rs 152.40 on the BSE in intra-day trade on Monday on the back of heavy volumes after the Central government increased the subsidy on electric two-wheelers by 50 per cent, under the second phase of the FAME India scheme, making them more affordable.

In the past one week, the stock of Greaves Cotton has soared 18 per cent, as compared to 0.41 per cent rise in the S&P BSE Sensex. It was trading close to its 52-week high price of Rs 158, touched on March 9, 2021. The trading volumes on the counter more than doubled with a combined 8.3 million shares changing hands on the NSE and BSE.