CG Power extends gain; stock zooms 106% from 52-week low
Shares of CG Power and Industrial Solutions were up 6 per cent to Rs 44.75 in intra-day trade on the BSE, extending its month-long gain, on report that KKR, Yes Bank and BOI AXA may take control of Avantha Group Company.
The stock has zoomed 109 per cent from its 52-week low of Rs 21.40 touched February 14 on the BSE in intra-day trade.
On March 8, the pledge on shares created by Avantha Holdings as a promoter in CG Power and Industrial Solutions, has been invoked by Vistra TCL (India), the Debenture Trustee, the company said in a regulatory filing on March 10. Vistra TCL (India) has invoked pledge created in its favour over a portion of the equity shares of CG Power and Industrial Solutions, being 67.69 million equity shares (of the aggregate number of 135.39 million shares pledged in favour), it said.
