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.
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