Page 2 - Cg Power

CG Power and Industrial Solutions Q1 net profit jumps 138% to Rs 130 crore

The company had reported a consolidated net profit of Rs 54.58 crore in the quarter ended on June 30, 2021, a BSE filing said

Kirloskar Ferrous takes over Indian Seamless for Rs 670 cr

The proceeds will be used towards a one-time settlement of ISMT's loans of about Rs 3,359 crore

This Murugappa Group stock has zoomed 100% in 11 weeks

CG Power and Industrial Solutions hit a multi-year high of Rs 157.65 today, and has zoomed 3,261 per cent from its March 2020 low of Rs 4.69 on the BSE

YES Bank loan fraud: CBI books former CG chairman Gautam Thapar, others

The case has been registered on a complaint, dated May 27, 2021, from Chief Vigilance Officer of the bank Ashish Vinod Joshi

CG Power lines up Rs 135 cr capital expenditure in current financial year

CG Power and Industrial Solutions, acquired by Tube Investments last year, has chalked out capital expenditure plans of Rs 135 crore during the current financial year, the company said.

CG Power seeks shareholders nod for preferential allotment of shares to SCB

CG Power and Industrial Solutions on Friday said it will seek shareholder approval to allot 1.38 crore shares for Rs 101.20 crore to Standard Chartered Bank on a preferential basis

Murugappa Group signs agreement for settling CG Power's dues, loan recast

Says CG Power's resolution of outstanding obligation towards its lenders has been completed by upfront payment of Rs 650 crore to lenders as compromise settlement

Tube Investments increases stake in CG Power after preferential allotment

Initially, TII invested around Rs 700 crore to acquire 51% stake in the scam-hit CG Power and Industrial Solutions

Tube Investments looks to reduce dependence on automobile industry

With the largest acquisition in its history, the Murugappa flagship is looking to reduce its dependence on the automobile industry and find new markets

CG Power to start creating cash next year and pay debt: Tube Investments MD

In an interview with Business Standard, Vellayan Subbiah, MD, spoke on how the acquisition fits in the firm's strategy and how it plans to turn around CG Power

CG Power lenders agree for loan recast, pave way for Murugappa takeover

CG Power and Murugappa Group firm Tube Investments of India Ltd, said lenders have accepted one-time settlement and restructuring of debt.

CG Power net profit at Rs 109 cr in Sept quarter, total income at Rs 673 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

CG Power shareholders vote to declassify Gautam Thapar as promoter

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

Tube Investments gets board nod to infuse another Rs 100 cr in CG Power

The firm has already committed Rs 700 crore to CG Power

KKR India sells CG Power shares worth Rs 30 cr through open market ops

KKR India Financial Services sold 96,10,588 shares of the company at an average price of Rs 16.85 apiece on the NSE, as per the bulk deal data

Minority shareholding shuffle seen at CG Power; Blue Diamond picks 7% stake

The bulk sale deals in the company scrip seen in the last one week included KKR, Vistra ITCL India and L&T Finance

CG Power: Investors should keep an eye on progress in deal completion

A strong partner should help business growth; further gains hinge on pricing, deal completion

Street sees CG Power's acquisition by Tube Investments as a win-win deal

A stronger partner will help business growth; further gains for the stock hinges on pricing and deal completion

CG Power acquisition likely to double revenues of Tube Investments

But turnaround could stretch its finances in short term

Murugappa Group's Tube Investments buys controlling stake in CG Power

The two companies entered into an agreement for issuance and allotment of equity shares and warrants totalling to Rs 700 crore on Friday