CG Power and Industrial Solutions Gets Huge Order Worth Rs 450 Crore to Supply Railway Products for Vande Bharat Trains

Vande bharat: CG Power and Industrial Solutions announced on Tuesday that they had received an order of Rs 450 crore for supply of railway products for Vande Bharat trains. The company also informed that apart from this order, a 35 -year service agreement is also part of the long term contract.

Will have to supply for so many trains

According to the company’s information given through BSE filing, CG Power and Industrial Solutions Limited (CG) has signed a long -term supply agreement with Kinet Railway Solutions Limited for supply and servicing of railway products. These will also include many other components like Motors, Transforms. The first order is for supply of railway products for 10 Vande India trains. An order of Rs 400-450 crore has been given for this. Let us know that the network of Vande Bharat Express trains in India is increasing rapidly. At present, 136 Vande Bharat trains are being run across the country.

Muruguppa Group part from 2020

CG Power and Industrial Solutions Limited has been active in the railway sector for the last 86 years. Over time, there are many things like traction machines and systems, rail transportation traction electronics, changing the supply portfolio. This electrical engineering company works through the industrial system and the power system through these two divisions. Since November 2020, CG is part of the Muruguppa Group.

Performance of company shares

Now talk about the stock market, then the shares of CG Power and Industrial Solutions closed at Rs 612.50 with a jump of 2.63 percent during the trading session on Tuesday. Touched an Intrade high of Rs 613 and a low of Rs 583.05. In the last five years, the stock has gained 11,793.20 percent and 30.47 percent in the last 12 months.

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