Crompton Greaves stock hits 52-wk low

The numbers are largely disappointing and are significantly below the consensus estimates,UBS Said in a note. The Swiss bank has a 8216;sell8217; rating and a price target of 240 rupees.

The slowdown in the consumer segment is a major cause of worry,in our view,and was not expected,it said in a note.

At 9.27 a.m.,the stock was down 6.63 percent at 194.55 rupees.

Crompton Greaves sees delays in domestic orders: CEO

Power equipment and electrical appliances maker Crompton Greaves is seeing a delay in new orders in the domestic market due to a slowdown in project finalisation by customers,its chief executive said on Wednesday.

It posted a drop in overseas revenues for the June quarter due to a slowdown in that segment,Chief Financial Officer Madhav Acharya told a conference call on Wednesday,adding,unrest in Africa and the Middle East earlier this year also hurt business in the region.

The firm said on Tuesday its consolidated net more than halved for April-June,sending its shares down more than 15 percent,the steepest fall in the past 27 months.

At 9:55 a.m.,shares in the firm were trading down 7.42 percent 192.80 rupees in a Mumbai market that was up 0.28 percent.

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