CG Power and Industrial Solutions Ltd on Wednesday reported a 21 per cent hike in its standalone profit after tax of Rs 232.13 crore for the April-June 2024 quarter.

CG Power Q1 results: Net profit rises 21% to Rs 232.13 cr as sales increase

CG Power and Industrial Solutions Ltd on Wednesday reported a 21 per cent hike in its standalone profit after tax of Rs 232.13 crore for the April-June 2024 quarter. The company, part of the diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 192.06 crore during the corresponding quarter of last year.

CG Power reports Q1 standalone PAT at Rs 232.13 cr

CG Power and Industrial Solutions, despite a recent moderation after hitting ₹783.60, remains bullish with a likely temporary correction. As it approaches the 20-day moving average at ₹715, fresh longs can be initiated at ₹727, accumulated at ₹680, with a stop-loss initially at ₹640, adjusted upward as the stock price rises, exiting at ₹840. Mangalore Refinery & Petrochemicals broke out of its ₹200-225 range last week, signaling potential appreciation to ₹300. Buy now at ₹240, accumulate at ₹225, with a stop-loss at ₹195, adjusting upwards as the price rises, and exit at ₹300. Vardhman Textiles, appreciating steadily since May 2023, faces resistance at ₹560 and might correct to ₹470 before potentially rising to ₹700. Go long now at ₹520, buy more at ₹470, with a stop-loss at ₹400, adjusting upward as the price increases, and book profits at ₹700.

Technical Analysis: CG Power and Industrial Solutions, Mangalore Refinery & Petrochemicals and Vardhman Textiles

Amar Kaul joins the Company on 9 July 2024 initially as Managing Director & CEO -Designate and take over as the Managing Director & CEO effective 25 July 2024.

CG Power and Industrial Solutions appoints Amar Kaul as MD & CEO

The JV will be 92.3% owned by CG, with Renesas and Stars Microelectronics each holding equity capital of approximately 6.8% and 0.9%, respectively.

CG Power And Industrial Solutions To Form JV For OSAT Facility In India

The company’s second-quarter net profit rose 35.4% YoY to Rs 242 crore, beating Bloomberg estimate of Rs 212.05 crore.

CG Power And Industrial Solutions Q2 Results: Profit Surges 35.4% Beating Estimates

PBT achieved in Q1FY24 is the highest ever recorded in Q1 in recent times. Order book on hand as at 30 Jun 2023 aggregate to ₹4,909 crores.

CG Power And Industrial Solutions Profit Before Tax Grows By 55% In Q1FY24

Ajay Jain is a Bachelor of Engineering in Electrical and Power Systems from Punjabi University and has 28 years of experience in Transformer business with large organisations such as Hitachi Energy, GE, Alstom, and ABB.

CG Power and Industrial Solutions Appoints Ajay Jain As Vice President, Transformer Business

Tube Investment of India’s subsidiary CG Power and Industrial Solutions Ltd., (CG Power) has become a debt free after repaying its entire term loan

Murugappa group firm CG Power becomes debt free

Today’s Pick: CG Power and Industrial Solutions (₹319.45): BUY

The Board of CG Power and Industrial Solutions Ltd has given its consent to expand the manufacturing capacities of motors at its facilities, the company said on Tuesday.

CG Power and Industrial board approves manufacturing capacities expansion

The creamy layer - amongst the top performing stocks

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

CG Power And Industrial Solutions is engaged in the business of power transformers and reactors, low tension motors and switchgears. The Company provides end-to-end solutions to utilities, industries and consumers