CG Power and Industrial Solutions rose 3.33% to Rs 57.40 at 09:45 IST on BSE after the company bagged an order from the Indian Railways valued at Rs 319 crore.
The announcement was made after market hours yesterday, 5 June 2018.On the BSE, 1.28 lakh shares were traded in the counter so far compared with average daily volumes of 8.73 lakh shares in the past two weeks. The stock had hit a high of Rs 57.50 and a low of Rs 56 so far during the day. The stock hit a record high of Rs 99 on 15 January 2018. The stock hit a 52-week low of Rs 53.85 on 1 June 2018.
The mid-cap company has equity capital of Rs 125.35 crore. Face value per share is Rs 2.
CG Power and Industrial Solutions bagged an order from the Indian Railways valued at Rs 319 crore to supply under slung electrics for diesel electric tower car (DETC). Large quantities of DETCs are required for massive track electrification drive taken up by Indian Railways across the country. More than 1000 DETCs shall be required for electrification and thereafter for inspection and maintenance in the coming years.
Scope of supply of each diesel-electric propulsion system consist of integrated under slung power pack comprising of diesel engine and alternator, power rectifiers, traction motors with both side suspension arrangement with accessories, controlling devices with digital control signals. The scope of supply also includes installation and testing of the complete propulsion system at ICF Chennai and commissioning of systems on DETCs all across India.
On a consolidated basis, CG Power & Industrial Solutions reported net loss of Rs 581.82 crore in Q4 March 2018 as against net loss of Rs 444 crore in Q4 March 2017. Net sales rose 18.1% to Rs 1792.35 crore in Q4 March 2018 over Q4 March 2017.
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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