CG Power hits record high; stock surges 10% in two days on heavy volumes

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.

Shares of CG Power and Industrial Solutions hit a record high of Rs 298, gaining 3 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes in an otherwise weak market. In past two trading days, the stock has rallied 10 per cent.

In comparison, the S&P BSE Sensex was down 0.65 per cent at 60,354 at 10:23 AM. The average trading volumes at the counter jumped 1.4 times with a combined 2.4 million shares changing hands on the NSE and BSE.

CG Power on Monday said that a meeting of the board of directors of