On Monday’s Trading Session CG Power Locks In At The Upper Circuit
- ByStartupStory | June 14, 2021
CG Power and Industrial Solutions Limited, earlier known as Crompton Greaves Ltd, an Indian Multinational Company got locked in the upper circuit during Monday’s trading session. The company gained almost 5%, leading to the positive results, announced by the management of making a capital expenditure of Rs 135 crore.
The Aim of the capital expenditure is to improve production by debottlenecking and modernizing the plants at CG Power & Industrial Solutions. After a string of losses, the company is facing a strong revival and managed to turn around by gaining profits.
However, for one year CG Power is up by 90.5% on a YTD basis and stock has increased by 1,173%. During Monday’s morning session, trading at Rs. 85.95, the stock went up by 4.95%. Furthermore, the stock is trading flat in one-month. Sensex in the meantime has recovered its losses on an intraday basis and is trading down by more than 200 points.
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