CG Power climbs 5% on order win, fund raising plan
NEW DELHI: Shares of CG Power & Industrial Solutions on Wednesday hit upper circuit limit of 5 per cent at Rs 16.14 on the BSE after its step-down subsidiary in Indonesia bagged a $24 million order from state-run PT PLN for manufacture and supply of 25 unit of power transformers.
The news came at a time when the company was looking to raise about Rs 800 crore through an equity issue.
The fresh order win was in in addition to the order for 14 units at $21 million received earlier this year, taking total order from PLN to $45 million for FY 20.
