CG Power And Industrial Solutions

CG Power hit a new high of Rs 327, surging 5 per cent in the intra-day trade, after MSCI decided to include the Murugappa Group company in India index

A combined 4.75 million shares representing 0.31 per cent of total equity of the company changed hands on the NSE and BSE till 12:10 PM.

CG Power and Industrial Solutions on Tuesday said its consolidated net profit declined 58 per cent to Rs 227.86 crore in December quarter 2022-23. The company's net profit in the year-ago period was Rs 545.06 crore, according to a BSE filing. Total income rose to Rs 1,809.95 crore in the quarter from Rs 1,558.89 crore in the same period a year ago. Total expenses also increased to Rs 1,528.22 crore from Rs 1,385 crore in the same period of 2021-22. The company's board has also approved a proposal to expand the manufacturing capacity of power transformer and distribution transformer units of the company at its plants in Malanpur and Bhopal at an investment of Rs 126 crore. The proposed expansion would increase the capacity from 17,000 MVA to 25,000 MVA for power transformers and from 6,900 MVA to 9,900 MVA for distribution transformers. The current capacity utilization is around 65 per cent. The expansion project is expected to be implemented within a period of 15 months and will

Following a strong close over the 200-DMA set at Rs 2,559, the chart structure of Reliance Industries reveals a "Double Bottom" breakout

In H1FY23, Ebitda margins improved 200 bps to 14.2% on account of improved sales realisation, favourable product mix, moderation in input costs, procurement efficiencies and better operating leverage.

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

Standard Chartered Bank (Singapore) Ltd offloaded 1.38 crore shares of CG Power and Industrial Solutions shares for Rs 298 crore on Wednesday through an open market transaction. According to block deal data available with BSE, Standard Chartered Bank (Singapore) Ltd sold 1,38,45,000 shares in six tranches, amounting to a 0.91 per cent stake in the company. The shares were disposed of at an average price of Rs 215 apiece, taking the transaction value to Rs 297.66 crore. Meanwhile, Societe Generale, DSP Mutual Fund and HDFC Life Insurance company Ltd picked up the shares of the company. Shares of CG Power and Industrial Solutions closed 1.65 per cent higher at Rs 219.25 on BSE.

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 company said it has been identifying areas of synergies with Tube Investments and the Murugappa Group to take the pillars of growth much higher in the next 3-5 years

CG Power and Industrial Solutions on Monday said that the Bombay High Court has quashed an assessment order of Rs 684.08 crore against the company issued by the I-T department.

This took the total deal value to Rs 350.83 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

CG Power and Industrial Solutions Ltd, part of the diversified conglomerate Murugappa Group has reported a standalone net profit at Rs 93.67 crore for the quarter ending September 30, 2021.

Sebi has put initial offer in abeyance due to pending inquiry against group firm

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

The board is scheduled to be held on Thursday, March 25, to consider issue of equity shares on preferential allotment basis to Standard Chartered Bank (Singapore)

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

The proposed investment is in addition to Rs 700 crore approved for investment in the equity shares and share warrants of CG Power by TII

Shares of CG Power were trading 4.98 per cent higher at Rs 15.39 per share on BSE

Tube Investments of India was trading nearly 5.5 per cent higher at Rs 537.20.