CG Power & Industrial Solutions Ltd Share Price – NSE  /  BSE

Capital Goods - Electrical Equipment, Mid Cap

Indo Count Industries Ltd, Kaynes Technology India Ltd, Oil India Ltd and Sona BLW Precision Forgings Ltd are among the other losers in the BSE's 'A' group today, 01 April 2024.

CG Power & Industrial Solutions Ltd lost 4.34% to Rs 516.5 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 1.47 lakh shares were traded on the counter so far as against the average daily volumes of 2.58 lakh shares in the past one month.

Indo Count Industries Ltd tumbled 3.26% to Rs 341.6. The stock was the second biggest loser in 'A' group.On the BSE, 18827 shares were traded on the counter so far as against the average daily volumes of 83410 shares in the past one month.

Kaynes Technology India Ltd crashed 2.86% to Rs 2787. The stock was the third biggest loser in 'A' group.On the BSE, 2912 shares were traded on the counter so far as against the average daily volumes of 12519 shares in the past one month.

Oil India Ltd pared 2.75% to Rs 583.6. The stock was the fourth biggest loser in 'A' group.On the BSE, 84028 shares were traded on the counter so far as against the average daily volumes of 3.74 lakh shares in the past one month.

Sona BLW Precision Forgings Ltd shed 2.70% to Rs 686.5. The stock was the fifth biggest loser in 'A' group.On the BSE, 30672 shares were traded on the counter so far as against the average daily volumes of 79657 shares in the past one month.

Powered by Capital Market - Live News

CG Semi, a subsidiary of CG Power & Industrial Solutions, announced that it has performed the foundation stone laying ceremony in Sanand, Gujarat.

The Joint Venture between CG Power and Industrial Solutions Limited (CG); Renesas Electronics Corporation (TSE: 6723, Renesas); and Stars Microelectronics (Thailand) Public Co. Ltd (Stars Microelectronics), will set up a world-class OSAT facility in India.

This facility will be set up in a land area of around 28 acres with an investment of Rs 7600 crores spread over a period of five years. This facility will manufacture a wide array of products – ranging from legacy packages such as QFN and QFP to advanced packages such as FC BGA, and FC CSP, which will cater to industries such as Automotive, Consumer, Industrial, 5G, to name a few, with a capacity to ramp up production to 1.5 crore units per day.

The facility will generate employment for around 5000 people, thereby providing opportunities to the local communities.

Powered by Capital Market - Live News

CG Power & Industrial Solutions has allotted 30,620 equity shares under ESOP on 04 March 2024. Consequently on allotment of the above equity shares, the paid-up equity share capital of the Company stands increased from Rs. 3,05,46,05,188 to Rs. 3,05,46,66,428 comprising of 1,52,73,33,214 equity shares of face value of Rs. 2/- each.

Powered by Capital Market - Live News

CG Power, Renesas Electronics Corporation and Stars Microelectronics (Thailand) Public Co. have signed a joint venture agreement (JVA) to establish a joint venture (JV) to build and operate an OSAT facility in India.

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the project of the JV under India’s Semiconductor scheme on 29 February 2024.

CG, with around 86 years of manufacturing expertise, is keen to build semiconductor capabilities and ecosystem in India.

Renesas, a leading semiconductor company headquartered in Japan, will provide advanced semiconductor technology and expertise.

Stars Microelectronics, a Thailand-based OSAT, will provide both technology for legacy packages and training and enablement.

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. The JV plans to invest INR 7,600 crores over a five-year period, which will be financed through a mix of subsidies, equity, and potential bank borrowings as required.

The JV will set up a manufacturing facility in Sanand, Gujarat, with a capacity that will ramp up to 15 million units per day. The JV will manufacture a wide range of products – ranging from legacy packages such as QFN and QFP to advanced packages such as FC BGA, and FC CSP. The JV will cater to industries such as automotive, consumer, industrial, 5G, to name a few.

S. Vellayan, chairman, CG Power and Industrial Solutions, said, “CG’s entry into the semiconductor manufacturing marks a strategic diversification for us.

Our partners, Renesas and Stars Microelectronics, will make our learning curves steeper and help us focus on innovation and excellence.”

CG Power & 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.

The company's consolidated net profit surged to Rs 747.50 crore in the quarter ended December 2023 as against Rs 227.76 crore during the previous quarter ended December 2022. Sales rose 12.91% to Rs 1978.75 crore in Q3 FY24 over Q3 FY23.

Powered by Capital Market - Live News