Multibagger power stock gains on fresh order win from Bengal govt

Shares of CG Power and Industrial Solutions Ltd rose nearly 3% today after the firm said G.G.Tronics India Private Limited (GGT), a subsidiary of CG Power and Industrial Solutions Limited won a prestigious KAVACH order from Chittaranjan Locomotive Works, West Bengal. The order value is ranging between Rs 500 crore to Rs 600 crore. The execution time frame for this order will be one year.

The multibagger stock climbed 3% to Rs 755.15 against the previous close of Rs 734.70. Market cap of the firm rose to Rs 1.14 lakh crore.  

The stock hit its 52-week low of Rs 410.10 on November 28, 2023 and a 52 week high of Rs 874.50 on October 11, 2024. Total 0.20 lakh shares of the firm changed hands amounting to a turnover of Rs 1.52 crore in Wednesday's session.

"The scope of the order comprises Supply, Installation, Testing, and Commissioning of Onboard KAVACH equipment as per RDSO specifications including annual maintenance for 11 years. The supply scope also includes complete wiring, harnessing, cabling, and connection with Loco KAVACH system," said CG power.  

CG Power stock has a one-year beta of 0.8, indicating very low volatility during the period.  

In terms of technicals, the relative strength index (RSI) of CG Power stands at 51.9, signaling it's trading neither in the oversold zone  nor in the overbought zone. The stock is trading higher than the 5 day, 10 day, 20 day, 100 day, 150 day, 200 day but lower than the 30 day and 50 day moving averages.       

The multibagger stock has risen 166.30 per cent in two years and gained 400% in three years.     

CG Power is engaged in the providing end-to-end solutions to utilities, industries and consumers for the management and application of electrical energy. The company offers products, services and solutions through two segments: Power Systems and Industrial Systems. Its power systems segment includes transformers, switchgear, automation and turnkey projects. Its industrial systems segment includes electric motors, alternators, drives, traction electronics and supervisory control and data acquisition systems (SCADA).