CG Power surges on bagging order worth Rs 111 crore from Indian Railways

23 Nov 2017

CG Power & Industrial Solutions is currently trading at Rs. 86.65, up by 0.85 points or 0.99% from its previous closing of Rs. 85.80 on the BSE.

The scrip opened at Rs. 85.90 and has touched a high and low of Rs. 87.00 and Rs. 84.85 respectively. So far 231237 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 97.30 on 26-May-2017 and a 52 week low of Rs. 55.60 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 87.00 and Rs. 80.85  respectively. The current market cap of the company is Rs. 5349.28 crore.

The promoters holding in the company stood at 34.42%, while Institutions and Non-Institutions held 52.10% and 13.48% respectively.

CG Power & Industrial Solutions has bagged an order of Rs 111 crore from Indian Railways for Drive Propulsion System of Electric Loco at Chittaranjan Locomotive Works. CG’s Drive Propulsion System comprises of IGBT based Traction converter, Auxiliary converter, TCN based Vehicle control unit and Driver Display Unit which helps to run trains efficiently at a higher speed with reduced energy consumption.

The order is significant to Indian Railways capacity enhancement plans and meets the demand for electric loco products with an emphasis on propulsion system. This opens up huge opportunities for CG especially in electric locomotives.

Avantha Group Company CG Power and Industrial Solutions (Formerly Crompton Greaves Limited) is a global pioneering leader in the management and application of electrical energy. CG provides end-to-end solutions that meet all electrical needs of its customers. CG’s offerings include electrical products, systems and services for utilities, power generation and industries.

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