CG Power hits new high on heavy volumes; stock surges 18% in one month

Shares of CG Power and Industrial Solutions hit a new high of Rs 319.10 on the BSE in Tuesday’s intra-day trade on the back of heavy volumes in an otherwise subdued market. The stock of the Murugappa Group company surpassed its previous high of Rs 315.50, touched on January 16, 2023.

In past one month, the stock has rallied 18 per cent, as compared to less than 1 per cent rise in the S&P BSE Sensex. The average trading volumes at the counter jumped over 15-fold on the BSE today. A combined 4.75 million shares representing 0.31 per cent of total equity of the company changed hands on the NSE and BSE till 12:10 PM.