CG Power

The highest supply in a day (peak power demand met) also rose to 226.63GW in July 2024 against 208.95 GW in the year-ago month

Biocon share may slip up to 21 per cent if breaks 52-week low

The CBI has filed a charge sheet against CG Power and Industrial Solutions and its former promoter Gautam Thapar in an alleged Rs 2435-crore bank fraud case that affected 12 banks, officials said. This comes after the agency conducted a probe for nearly 19 months into the allegations of diversion of bank funds, and manipulation of account books among other charges against the company, Thapar and other senior executives, they said. Thapar is already facing multiple probes into his alleged links with Yes Bank co-founder Rana Kapoor who was booked by the CBI under corruption and fraud charges. In its charge sheet filed before a special court, the CBI has alleged that huge amounts of bank loans were diverted by the accused to related parties for which adjustment entries were made in the account books, they said. The investigations showed that the accused availed loans against securities without disclosing credit facilities availed from other banks, they said. The accused borrowed fun

CG Power and Industrial Solutions on Wednesday reported 11 per cent decline in consolidated net profit at Rs 178.97 crore for September quarter 2022-23. The company logged a profit of Rs 201.78 crore in the quarter ended September 30, 2021, a BSE filing stated. However, its total income rose to Rs 1,707 crore in the quarter from Rs 1,468.56 crore in the same period a year ago. The board in its meeting also approved a proposal to expand the manufacturing capacity of motors at its Ahmednagar and Goa plants with a capital outlay of Rs 230 crore. The proposed expansion would increase the capacity to 19.92 lakh low tension motors per annum, from the existing capacity of 9.93 lakh per annum. The current capacity utilisation is around 80 per cent. The expansion project will be implemented in 2 phases over a period of 4 years and will be funded through internal accruals. The expansion is proposed considering the expected increase in future demand for AC motors. The board also approved on

The company had reported a consolidated net profit of Rs 54.58 crore in the quarter ended on June 30, 2021, a BSE filing said

The proceeds will be used towards a one-time settlement of ISMT's loans of about Rs 3,359 crore

CG Power and Industrial Solutions hit a multi-year high of Rs 157.65 today, and has zoomed 3,261 per cent from its March 2020 low of Rs 4.69 on the BSE

The case has been registered on a complaint, dated May 27, 2021, from Chief Vigilance Officer of the bank Ashish Vinod Joshi

CG Power and Industrial Solutions, acquired by Tube Investments last year, has chalked out capital expenditure plans of Rs 135 crore during the current financial year, the company said.

CG Power and Industrial Solutions on Friday said it will seek shareholder approval to allot 1.38 crore shares for Rs 101.20 crore to Standard Chartered Bank on a preferential basis

Says CG Power's resolution of outstanding obligation towards its lenders has been completed by upfront payment of Rs 650 crore to lenders as compromise settlement

Initially, TII invested around Rs 700 crore to acquire 51% stake in the scam-hit CG Power and Industrial Solutions

With the largest acquisition in its history, the Murugappa flagship is looking to reduce its dependence on the automobile industry and find new markets

In an interview with Business Standard, Vellayan Subbiah, MD, spoke on how the acquisition fits in the firm's strategy and how it plans to turn around CG Power

CG Power and Murugappa Group firm Tube Investments of India Ltd, said lenders have accepted one-time settlement and restructuring of debt.

The company had suffered a net loss of Rs 1,595.21 crore in the corresponding period of the previous financial year, according to a BSE filing

Within days of the unearthing of the fraud involving siphoning off money raised using company assets as collateral, Thapar was removed by the company board on August 29, 2019

The firm has already committed Rs 700 crore to CG Power

KKR India Financial Services sold 96,10,588 shares of the company at an average price of Rs 16.85 apiece on the NSE, as per the bulk deal data

The bulk sale deals in the company scrip seen in the last one week included KKR, Vistra ITCL India and L&T Finance