CG Power and Industrial Solutions Ltd announces expansion proposal

CG Power and Industrial Solutions Limited has announced a proposal to expand the manufacturing capacity of Motors at its plants at Ahmednagar and Goa at a capital outlay of Rs.230 crore.

The proposed expansion would increase the capacity of Low Tension Motors' ("LT Motors") upto 19.92 lakhs nos. per annum, from the existing capacity of 9.93 lakhs nos. per annum.

The current capacity utilisation is around 80%. The expansion project will be implemented in 2 phases over a period of 4 years and will be funded through internal accruals. The expansion is proposed considering the expected increase in future demand for AC motors.

Shares of CG Power and Industrial Solutions Limited was last trading in BSE at Rs. 260.75 as compared to the previous close of Rs. 254.15. The total number of shares traded during the day was 207216 in over 3222 trades.

The stock hit an intraday high of Rs. 262.95 and intraday low of 253.60. The net turnover during the day was Rs. 53478901.00.

Source : Equity Bulls

Keywords

CGPowerandIndustrialSolutions INE067A01029 ExpansionProject Motors