The news of Tube Investments of India (TII) acquiring a controlling stake in CG Power has boosted investor sentiment. CG Power has gained over 30 per cent, while TII shares are up over 16 per cent since the announcement, as the Street sees it as a win-win deal.
CG Power gets a stronger parent, while TII gets a larger business and growth opportunity, albeit with its share of risk. CG Power, which provides power and industrial system related services in India and abroad, has struggled largely with stress in its European operations. While the company restructured and divested some ...
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