CG Power Flashes Strong Buy Signal — Choice Broking Set Bold Target of Rs 872; The Next Multibagger?

Following a 0.95% decline, the shares of CG Power and Industrial Solutions Ltd. wrapped up the previous trading session on Friday at Rs 753.90 per share on the NSE. The stock gained 1.43% throughout the course of the week despite the sell-off. The stock is now trading about 45.6% above its 52-week low of Rs 517.70, reached on April 7, 2025, and 13.8% below its 52-week high of Rs 874.70, achieved on October 11, 2024, at the current market price of Rs 753.90.

Even if the stock hasn't yet recovered to its peak levels, this shows a solid comeback from its yearly low and points to restored investor confidence and good momentum in recent months. In addition, after CG Power shares recently broke out of a long-term parallel channel on the weekly chart, Choice Broking's Executive Director Sumeet Bagadia believes the stock has further upside potential of 14.74% from its current level.

CG Power Target Price

Buy CGPOWER @ 760.5 with a target of 872 and a stop loss at 709

"CGPOWER is currently trading at ₹760.5 and has recently broken out of a long-term parallel channel on the weekly chart. This breakout was followed by a successful retest, and the stock is now displaying renewed upward momentum. Furthermore, it has moved out of a short consolidation phase with the formation of a strong bullish candle, creating a confluence of positive signals that reinforce the bullish technical setup. The breakout, supported by consistent trading volumes, highlights strong accumulation and growing market participation," said Sumeet Bagadia.

"Momentum indicators also lend support to this view. The Relative Strength Index (RSI) stands at 67.31 on a daily time frame and is trending upwards after a positive crossover, reflecting strengthening bullish momentum and indicating scope for further upside. In addition, the stock is trading comfortably above all key moving averages, underscoring solid support from crucial trend levels and further reinforcing positive sentiment," he added.

"If CGPOWER sustains above the breakout zone and decisively crosses the ₹800 mark, it could trigger the next leg of the rally. In such a scenario, the stock holds potential to move towards ₹872 in the near term. On the downside, a prudent stop-loss can be placed at ₹709 to manage risk effectively," Sumeet Bagadia further recommended.

About CG Power and Industrial Solutions

The engineering giant CG Power and Industrial Solutions Limited has its primary headquarters in Mumbai, India. The company is a pioneer in the electrical engineering sector and provides a wide range of power and industrial equipment products, solutions, and services to several sectors in India and throughout the world.

With nine top-notch production facilities in India and one in Sweden, as well as a Pan-India network of five regional and fourteen branch offices and over 3,113 workers, CG is the world's top producer of consumer products and solutions.

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