CG bags order of Rs111cr from Indian Railways; Stock gains 2%

India Infoline News Service | Mumbai | November 23, 2017 15:29 IST

The order is significant to Indian Railways capacity enhancement plans and meets the demand for electric loco products with an emphasis on the propulsion system.

Stock up
Avantha Group Company CG has bagged an order of Rs111crore from Indian Railways for Drive Propulsion System of Electric Loco at Chittaranjan Locomotive Works.

CG’s Drive Propulsion System comprises of IGBT based Traction converter, Auxiliary converter, TCN based Vehicle control unit and Driver Display Unit which helps to run trains efficiently at a higher speed with reduced energy consumption.

The order is significant to Indian Railways capacity enhancement plans and meets the demand for electric loco products with an emphasis on the propulsion system. This opens up huge opportunities for CG especially in electric locomotives.

The stock is currently trading at Rs 247.3, up by Rs 4.3 or 1.77% from its previous closing of Rs 243 on the BSE. The scrip opened at Rs 243.05 and has touched a high and low of Rs 249.8 and Rs 241.95 respectively.


***Note: This is a NSE Chart

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.