CG Power and Industrial Solutions gains on inking pact with M/s Kinet Railway Solutions
CG Power and Industrial Solutions is currently trading at Rs. 612.15, up by 4.60 points or 0.76% from its previous closing of Rs. 607.55 on the BSE.
The scrip opened at Rs. 614.70 and has touched a high and low of Rs. 619.50 and Rs. 608.45 respectively. So far 17233 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 874.50 on 11-Oct-2024 and a 52 week low of Rs. 450.00 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 644.30 and Rs. 583.25 respectively. The current market cap of the company is Rs. 93475.08 crore.
The promoters holding in the company stood at 58.06%, while Institutions and Non-Institutions held 26.21% and 15.74% respectively.
CG Power and Industrial Solutions has entered into a long-term supply agreement with M/s Kinet Railway Solutions for supply and servicing of railway products including propulsion kits with motors, transformers and various other items.
As part of this agreement, the first purchase order, ranging between Rs 400 crore to Rs 450 crore, has been secured by the company for the supply of railway products for 10 Vande Bharat trainsets. Apart from this purchase order, a separate 35-year service order is also a part of the said long-term agreement.
CG Power and Industrial Solutions is an engineering conglomerate with an impressive and diverse portfolio of products, solutions and services for Power and Industrial equipment and solutions, addressing myriad needs.
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