CG secures an order for supply and servicing of railway products towards manufacturing of Vande Bharat Trainsets

CG Power and Industrial Solutions Ltd (CG), an engineering conglomerate and a leader in the Electrical Engineering Industry, has entered into a long-term supply agreement with M/s Kinet Railway Solutions Limited for supply and servicing of railway products including propulsion kits with motors, transformers and various other items. As part of this agreement, the first purchase order, ranging between Rs. 400 crores to Rs. 450 crores, has been secured by the Company for the supply of railway products for 10 Vande Bharat trainsets. Apart from this purchase order, a separate 35-year service order is also a part of the said long-term agreement.

With a legacy spanning over 86 years, CG has established a strong foothold in the Railway Industry, offering a comprehensive portfolio that includes: Traction Machines & Systems, Rail Transportation Traction Electronics (complete Railway Propulsion Systems), and Railway Signalling Products (Electro-Mechanical Signalling Products). Recently, the Company also forayed into the Train Collision Avoidance System (TCAS) or KAVACH domain.

Shares of CG Power and Industrial Solutions Limited was last trading in BSE at Rs. 595.65 as compared to the previous close of Rs. 629.95. The total number of shares traded during the day was 108831 in over 3755 trades.

The stock hit an intraday high of Rs. 644.30 and intraday low of 591.00. The net turnover during the day was Rs. 66890767.00.

Source : Equity Bulls

Keywords

CGPowerandIndustrialSolutions INE067A01029 LongTermSupplyAgreement KinetRailwaySolutions