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Buy Crompton Greaves, target price Rs 357: Yes Securities Crompton Greaves Consumer Electricals Ltd., incorporated in the year 2015, is a Mid Cap company (having a market cap of Rs 21194.48 Crore) operating in Consumer Durables sector.
Murugappa Group takes over CG Power, appoints directors CG Power said its entire board including non-executive chairman Ashish Guha and whole-time executive director Sudhir Mathur have resigned.
TIL takes over majority stake in CG Power and Industrial Solutions, holds 50.62% equity TIL has acquired a controlling interest in the company and holds 50.62 per cent of the paid-up equity share capital of the company."
3 stocks to buy with an eye to 2021 This is the time to look for stocks with accelerating business momentum in auto & auto ancillaries, consumer discretionary and banks, says Chakri Lokapriya.
CG Power lenders agree for loan restructuring, pave way for Murugappa takeover In separate stock exchange filings, CG Power and Murugappa Group firm Tube Investments of India Ltd (TIIL) said lenders have accepted one-time settlement and restructuring of debt.
Crompton Greaves' 2 promoters sell co's shares worth over Rs 1,631 cr Amalfiaco offloaded over 3.6 crore shares at Rs 296.57 apiece, taking the transaction value to Rs 1,069.84 crore, the data showed.
CG Power and Industrial Solutions posts Rs 109 crore net profit in September quarter The company had suffered a net loss of Rs 1,595.21 crore in the corresponding period of the previous financial year, according to a BSE filing.
CG Power Q2 results: Posts net profit of Rs 109 cr The company had suffered a net loss of Rs 1,595.21 crore in the corresponding period of the previous financial year, according to a BSE filing.
Stock market update: 6 stocks hit 52-week lows on NSE Domestic benchmark index NSE Nifty was trading 71.80 points up at 11968.25, while the BSE Sensex was trading 243.48 points up at 40801.97.
Crompton Greaves shares jump 15% after Q2 earnings Crompton Greaves Consumer Electricals Ltd on Thursday reported a 27.77 per cent increase in consolidated net profit at Rs 141.68 crore for the quarter ended September 2020. The company had posted a net profit of Rs 110.88 crore for the July-September period a year ago, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a BSE filing.
Stock market news: Crompton Greaves shares surge 10% Shares of Crompton Greaves Consumer Electricals Ltd. traded 9.86 per cent up in trade at 11:38AM on Friday.
Crompton Greaves Consumer Electricals Q2 results: Net profit up 28% to Rs 142 cr Revenue from operations climbed 12.77 per cent to Rs 1,213.19 crore during the quarter under review as against Rs 1,075.79 crore in the corresponding period of the previous fiscal.
CG Power shareholders vote to declassify Thapar as promoter, re-appoint Mathur as director Within days of the unearthing of the fraud involving siphoning off money raised using company assets as collateral, Thapar was removed by the company board on August 29, 2019. Thapar was the non-executive chairman of the company at that time.
Tube Investments' stake purchase in CG Power gets Competition Commission nod In August, TIIL offered to invest Rs 700 crore in CG Power for more than 50 percent stake.
CG Power shares locked in 5% lower circuit after Q1 earnings Total consolidated revenue from operations for Q1FY21 stood at Rs 362.73 crore, against Rs 1,773.73 crore in Q1FY20 and Rs 616.25 crore in Q4FY20.
Stocks in the news: Infosys, ONGC, Yes Bank, Coal India, Hero Moto, NMDC, VST Tillers Coal India, Yes Bank, Max Healthcare, Aurobindo Pharma and Emami are some other stocks that will be in the news today.
Integrated Core Strategies acquires 0.69% stake in Bharti Airtel, DSP MF buys 1.2% in Sheela Foam Bharti Airtel's share price fell nearly 2 percent on August 31 following a correction in the overall market on escalation in India-China border tensions
Murugappa Group set to win Swiss challenge for CG Power after no fresh bids, say sources Chennai-based Murugappa Group firm Tube Investments of India Ltd (TIIL) had earlier this month offered to invest Rs 700 crore in CG Power and Industrial Solutions Ltd for a 56.6 per cent stake.
NSE-BSE bulk deals: KKR India further reduces stake in CG Power KKR India Financial Services sold a total of 2,16,60,588 shares of CG Power and Industrial Solutions on BSE and NSE, while KKR India Debt Opportunities Fund II sold 34,64,021 shares in the company on the BSE.
Yes Bank exits CG Power, sells over 10% stake in tranches Yes Bank has sold 6,34,00,000 equity shares having nominal value of Rs 2 each, constituting 10.12 percent of the share capital of CG Power in various tranches.
Yes Bank offloads 8.3% stake in CG Power, hedge fund sells 1.77 lakh shares in Som Distilleries Yes Bank held 12.79 percent equity stake in CG Power as per the shareholding pattern as of June 2020
L&T Finance exits CG Power and Industrial Solutions L&T Finance has "sold (in open market) 6.26 crore shares of CG Power and Industrial Solutions Ltd, constituting 9.99 per cent of the paid up share capital of CG Power and Industrial Solutions Ltd," a regulatory filing said.
CG Power locked in upper circuit after Yes Bank cuts its stake in company GDN Investments acquired 46 lakh shares in CG Power at Rs 14.66 per share on the BSE.
YES Bank jumps 4% as lender repays Rs 35,000 crore to RBI The bank recently raised equity funding of Rs 15,000 crore through follow-on public offering (FPO).
Yes Bank offloads 8.3% stake in CG Power, US-based fund sells 1.77 lakh shares in Som Distilleries Yes Bank held 12.79 percent equity stake in CG Power as per the shareholding pattern as of June 2020
NSE-BSE bulk deals: L&T Finance exits CG Power; IndusInd offloads McLeod Russel IndusInd Bank and Manju Gaggar sold 22,00,000 shares and 9,00,000 shares of McLeod Russel India at Rs 17.78 per share, while Niraj Rajnikant Shah bought 12,12620 shares of the company at the same price.
Crompton Greaves eyes inorganic growth opportunities to enter more product segments "We are looking, obviously, and have been looking at inorganic opportunities which can help enable this...We are actively engaged in those kinds of discussions," Crompton Greaves Consumer Electricals Managing Director Shantanu Khosla told analysts in an earnings call.
Pragati India Fund sells 15% stake in PTC; Sterlite Power offloads over 14% units in IndiGrid PTC Industries share price was locked in 20 percent upper circuit on August 14 at Rs 582.50
Murugappa Group to invest Rs 700 crore in CG Power TIIL will also invest Rs 150 crore in the company over the next 18 months in the form of buying warrants that can be converted into equity shares.
Lenders of CG Power negotiate with Murugappa Group to further raise the bid amount If concluded, the deal will likely give Murugappa at least 70% of the debt-laden company.
Aviator Global Investment Fund acquires 1.4% stake in Best Agrolife, Merlin Marketing 1.48% in Kamat Hotels Yes Bank sold 43 lakh shares in CG Power & Industrial Solutions at Rs 10.75 per share. The bank held 8,00,50,000 equity shares (representing 12.79 percent of its total paid-up equity) in the company as of March 31.
Trade Setup for Wednesday: Top 15 things to know before Opening Bell Key support level for the Nifty is placed at 10,721.67, followed by 10,643.63. If the index moves up, the key resistance levels to watch out for are 10,845.77 and 10,891.83.
CG Power's current debt default at Rs 1,023 crore The total debt payment default also includes Rs 873 crore principal as of June 30, according to a regulatory filing.
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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