CG Power shares hit upper circuit after Singularity Holdings, Blue Diamond buy stake

The stock price surged over 137 percent in the last three months

CG Power and Industrial Solutions share price hit 5 percent upper circuit on August 18 after Singularity Holdings acquired 35 lakh shares of the company at Rs 13.95 per share on the NSE and Blue Diamond Properties bought 4,12,93,778 shares of Rs 13.97 per share on the BSE.

The stock price surged over 137 percent in the last three months and was trading at Rs 14.66, up Rs 0.69, or 4.94 percent at 11:49 hours today. It has touched an intraday high of Rs 14.66 and an intraday low of Rs 14.66.

There were pending buy orders of 4,822,841 shares, with no sellers available.

Also, on the other hand, L&T Finance on August 17 divested its remaining 8.4 percent stake in the company for Rs 73 crore, through open market transactions. The bulk deal data available with the stock exchanges, L&T Finance Ltd sold 5.26 crore shares, or 8.4 percent stake.

Earlier last week, Murugappa Group firm Tube Investments of India Ltd has agreed to invest Rs 700 crore in CG Power and Industrial Solutions Ltd for a 51 percent stake, the company said on Friday.

Tube Investments of India Ltd will be issued 64.25 crore shares at Rs 8.56 apiece aggregating to Rs 550 crore, CG Power said in a regulatory filing.

Comments

Panacea Biotech shares hit 5% upper circuit after dengue vaccine completes phase I & II study

DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes, the company has said in an exchange filing. Panacea Biotech share price hit 5 percent upper circuit on the BSE on September 24 after the company completed phases I and II study of its dengue vaccine candidate DengiAIl. "Panacea Biotec Ltd. is delighted to announce the successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose liveattenuated tetravalent vaccine," the company said in an exchange filing. Live-attenuated vaccines contain weakened bacteria or viruses that trigger an immune response but do not cause disease. The company said DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes. DengiAIl has been found to be safe and well-tolerated with no serious adverse effects, the company said. After a single-dose, more than 80 percent of the participants ...

Brokerages place bets on Titan, see double-digit upside in the stock

Titan can get benefits from the strong market share in the jewellery and wrist watches segment, mainly driven by a wide range of product portfolio catering mainly to the premium and value-added designer jewellery segment. After three consecutive sessions of losses, shares of Titan Company rose over a percent in morning trade on BSE on September 23. The company was dealt a severe blow by COVID-19 as the pandemic triggered strict lockdowns completely battered the retail sector. In the calendar year so far, shares of this one of the largest, most efficient and profitable specialty retailer in India are 7 percent down. The company reported a net standalone loss of Rs 270 crore for the quarter ended June 2020 as the COVID-19 pandemic hit business. The loss was higher than a CNBC-TV18 poll estimate of Rs 175 crore. Standalone revenue during the quarter declined 62.3 percent year-on-year to Rs 1,862 crore compared to the corresponding period last fiscal. Light at the end ...

Check Chemcon Speciality Chemicals IPO allotment status in four simple steps

Equity shares will get credited into the accounts of eligible investors by September 30 and the listing of equity shares will be on October 1, 2020. Chemcon Speciality Chemicals, the manufacturer for pharmaceutical and oilfields industries, is expected to announce the basis of allotment early next week. As per the schedule provided by the company, the finalisation of the basis of the allotment will be done by September 28 and the initiation of refunds or unblocking of funds from ASBA account will take place on September 29. Equity shares will get credited to the accounts of eligible investors by September 30 and the listing will be on October The IPO comprised a fresh issue of Rs 165 crore and an offer for sale of Rs 153 crore by promoters. The company will utilise fresh issue proceeds for expansion of manufacturing facility, working capital requirements, and general corporate purposes. Chemcon manufactures specialised chemicals, such as Hexamethyldisilazane (HMDS) and Chloromethyl Iso...

SD Solutions

Search This Blog