India's CG Power and Industrial Solutions jumps 5% on Q2 profit rise

CG Power and Industrial Solutions

20/10/2023 10:53

** Shares of CG Power and Industrial Solutions  CGPO.NS 
rise as much as 4.9% to 399 rupees
    ** CGPO, in its Q2 results reported 35% Y/Y rise in
consolidated net profit while revenue rose nearly 20% Y/Y
    ** Consolidated revenue of segments power systems and
industrial systems rose 25.3% and 17% Y/Y respectively
    ** Stock on track to snap 12 consecutive session of loss, if
gains hold
    ** Avg rating of 6 analysts close to equivalent of "buy",
median PT is 444.50 rupees - LSEG data
    ** Stock last up 2.6%, bumping YTD gains to 44.4%


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))