Why CG Power is poised for a turnaround

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On the operational front, CG Power is among the leading companies in power transmission and distribution, railways and motors industries.

Synopsis

CG Power had a long term debt of over Rs 2,000 crore at the end of FY20. The Murugappa group has struck a settlement with banks (SBI is the lead banker) to repay Rs 1,050 crore.

ET Intelligence Group: CG Power and Industrial Solutions, the erstwhile debt-ridden company from the Thapar group, is expected to show a revival after its acquisition by the Murugappa group in August through its group company Tube Investments of India. It has chalked out plans to make CG Power debt free and will infuse sufficient funds to address working capital requirements. The stock has doubled to Rs 23 since the announcement of the

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ET Bureau

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