CG Power rises on entering into strategic alliance with TENAGA Switchgear

20 Aug 2018

CG Power & Industrial Solutions is currently trading at Rs. 60.30, up by 0.85 points or 1.43% from its previous closing of Rs. 59.45 on the BSE.

The scrip opened at Rs. 61.25 and has touched a high and low of Rs. 61.40 and Rs. 60.00 respectively. So far 436543 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 12-Jan-2018 and a 52 week low of Rs. 46.75 on 27-Jun-2018.

Last one week high and low of the scrip stood at Rs. 61.80 and Rs. 58.20 respectively. The current market cap of the company is Rs. 3776.15 crore.

The promoters holding in the company stood at 34.42%, while Institutions and Non-Institutions held 44.92% and 20.66% respectively.

CG Power & Industrial Solutions (CG) has entered into a strategic alliance agreement with TENAGA Switchgear Sdn. Bhd., Malaysia (TSG) to leverage each company's unique strengths and assets to expand market reach and enhance customer base in Southeast Asia-Pacific (SEAP), particularly Malaysia.

The alliance further cements the existing strong bond between CG and TSG where CG is already a key partner to Tenaga Switchgear on Power Transformers and Circuit Breakers. The agreement between the companies includes product development and promotion of 11 kV Gas Insulated Switchgear (GIS) in Malaysia to address the rapidly growing demand in this region.

Avantha Group Company CG Power and Industrial Solutions (formerly Crompton Greaves) 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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