India's CG Power climbs on surge in Q4 profit

CG Power and Industrial Solutions

08/05/2023 10:07

** Shares of CG Power and Industrial Solutions Ltd  CGPO.NS 
up 2% at 311.70 rupees, near session-highs
    ** Co reports near-4x growth in Q4 net profit, while revenue
jumps 28% YoY; core profit rises 51%
    ** Stock first dropped ~5% to session-low immediately after
the results, before reversing course
    ** Trading volume is 2.62 mln shares as of 2:23 p.m. IST,
twice the 30-day avg - Refinitiv data
    ** Three analysts rate stock 'buy' and one 'sell;' median PT
is 324.50 rupees, 6.2% above last close - Refinitiv data
    ** Including session's gains, stock up ~15.4% YTD

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))