CG Power stock hits six-week high, up 85% in last one month
Mumbai: Shares of fraud hit-CG Power & Industiral Solutions Ltd have advanced over 85% in last one month, hitting the 5% upper circuit in 15 of 21 sessions.
On Thursday, the stock rose 5% to hit a six-week high of ₹16.04. Year to date, the scrip has fallen nearly 65%.
On 20 August, the board of Gautam Thapar-promoted CG Power & Industiral Solutions said the company will restate accounts after discovering “significant accounting irregularities” and governance lapses, sending its shares plunging by the maximum daily limit of 20%. The stock had hit a multi-year low of 8.56 rupees on 26 August.
