For Quick Alerts
For Daily Alerts

CG Power Falls Most In 7 Years; Stock Hits Lower Circuit For Second Straight Day


Shares of CG Power And Industrial Solutions Ltd. plummeted for the second consecutive day by a huge 19.93% to Rs. 11.85 on the NSE. While on the BSE, the stock hit a price of Rs. 11.80 again losing a staggering 20% versus its previous close of Rs. 14.75 per share.

The losses in the company's share price come on the back of probe findings by a legal firm that pointed out various financial irregularities and misrepresentation of company's financial statements.

CG Power Falls Most In 7 Years; Stock Hits Lower Circuit Again

It is said to be the worst trading day for the company in nearly seven years with the highest percentage loss ever since October 2012.

On Monday, the board of the company was briefed on some of the probe findings which could result in potential impact on the company's financial well-being. The company after taking note of substantial financial and other irregularities will restate its accounts.

Read more about: yes bank capital goods
Story first published: Wednesday, August 21, 2019, 11:05 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more