CG Power gains on bagging order worth Rs 107 crore from EESL

08 Feb 2018

CG Power and Industrial Solutions is currently trading at Rs. 86.35, up by 0.50 points or 0.58% from its previous closing of Rs. 85.85 on the BSE.

The scrip opened at Rs. 88.00 and has touched a high and low of Rs. 88.50 and Rs. 86.20 respectively. So far 7,268 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 99.00 on 15-Jan-2018 and a 52 week low of Rs. 64.10 on 16-Feb-2017.

Last one week high and low of the scrip stood at Rs. 90.25 and Rs. 78.20 respectively. The current market cap of the company is Rs. 5,539.28 crore.

The promoters holding in the company stood at 34.42%, while Institutions and Non-Institutions held 51.46% and 14.12% respectively.

CG Power and Industrial Solutions (CG) has bagged an order worth Rs 107 crore from Energy Efficiency Services (EESL), Power Ministry, Government of India, New Delhi for Low Voltage Motors. The order is of significance to CG’s Low Voltage Rotating Machines business as this adds momentum to the energy efficiency journey and opens up huge opportunities in energy efficient IE3 Motors segment.

EESL had invited its first tender for energy efficient IE3 Motors from all the major Motor manufacturers. CG was the only manufacturer to receive more than 50% of the tender quantity as a largest supplier. Total supplies will be completed within next six months’ time.

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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