Shares of Crompton Greaves Consumer Electricals Ltd. soared over 6% to hit a five-month high on Wednesday after the company changed its management structure amid focus on double-digit revenue growth.

During an investors’ meeting on Tuesday, the management said the household appliances firm is embarking on its 2.0 journey led by premiumisation, innovation, supply-chain excellence and digital initiatives, according to brokerages.

The company also rolled out a new management structure with five business units and seven functional heads.

Shares of Crompton Greaves jumped as much 6.14% intra-day to Rs 316.35 apiece, highest since March 6. It pared gains to trade 3.62% higher at Rs 308.85 per share compared to a 0.12% rise in the benchmark NSE Nifty 50 as of 11:37 a.m.

The total traded volume so far in the day stood at 8.5 times its 30-day average. The relative strength index was at 62, implying that the stock may be overbought.

Of the 46 analysts tracking Crompton Greaves, 31 maintain a ‘buy’ rating on the stock, 14 recommend a ‘hold’ and one indicates a ‘sell’, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 6.5%.