Heard on the street: Making a killing in Crompton Greaves

A Mumbai-based investor, known to have made a killing by short-selling in 2008, is rumoured to have built sizeable short positions in the stock futures of Crompton Greaves before the company’s results.

The open interest in the futures segment of Crompton Greaves, which was just 13 lakh shares on January 20, saw a steady rise in the past couple of weeks to around two crore.

Brokers said the investor, who was earlier bullish on the stock, anticipated weak results in the December quarter and is said to have trimmed a portion of his holdings in the stock.

Crompton Greaves, which was trading at Rs 168 on January 20, touched a low of Rs 120 on Wednesday.