India's CG Power rises on semiconductor design entry

Renesas Electronics

07/10/2024 10:11

** Shares of CG Power and Industrial Solutions  CGPO.NS  are
up nearly 4% at 748 rupees, amid a weak broader market 
    ** Engineering firm acquires radio frequency components
business of Renesas Electronics  6723.T  for $36 mln, marking
its entry into semiconductor design
    ** Stock top gainer on the Nifty Midcap 100 index
 .NIFMDCP100 , which is down 2.4%
    ** Nearly 6 mln shares traded by 2:30 p.m. IST, 2.5 times
their 30-day avg
    ** CGPO up 65% YTD vs 23.5% rise in the mid-cap index  

 (Reporitng by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))