India's CG Power hits record high; seeks approval for facility

CG Power and Industrial Solutions

22/11/2023 07:35

** Shares of CG Power and Industrial Solutions  CGPO.NS  
rise 20% to a record high and hit upper circuit at 469.4 rupees
     ** Co says it filed application to the govt seeking
approval to set up an outsourced semiconductor assembly and test
facility
    ** Estimated investment on the project is $791 mln over five
years 
    ** Trading vol is 8.1x the 30-day daily avg, traded most
since Feb 28
    ** Avg rating of six analysts on CGPO is "buy" and median PT
is 451 rupees - LSEG data
    ** CG Power stock extends YTD gains to 73.6%




 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))