The company’s share price has strengthened by 75 percent in the last one year. The company will set up a semiconductor manufacturing unit in Gujarat. The company will invest Rs 7600 crore for semiconductor manufacturing.
New Delhi. The shares of Murugappa Group company CG Power and Industrial Solutions, also known as Crompton Greaves Limited, have made investors rich. In the last three years, CG Power shares have given 650 percent returns to investors. Analysts are likely to see further upside in the stock after the company announced setting up a joint venture with Renesas and Stars Microelectronics in Anand, Gujarat for semiconductor assembly and test. Today at 2:00 pm on NSE, CG Power shares were trading at Rs 548.95 (CG Power and Industrial Solutions Share Price) with a rise of 0.14 percent. The company will announce the results for the fourth quarter of financial year 2024 today.
Renesas Electronics Corporation is a leading semiconductor company of Japan. At the same time, Stars Microelectronics is a leading OSAT company in Thailand. The joint venture (JV) will be 92.3 percent owned by CG Power and Renesas and Stars Microelectronics will each hold approximately 6.8 percent and 0.9 percent equity capital. The capacity of the facility in Sanand will be 15 million units per day. Its total cost will be Rs 7,600 crore.
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Proved to be a touchstone for investors
Shares of CG Power and Industrial Solutions have proved to be a touchstone for investors. This stock has given 650 percent return to investors in three years. This means that the investment made in this stock has increased seven times during this period. Similarly, the price of this share has increased by 75 percent in one year. This stock has risen by about 46 percent in six months and so far in the year 2024, it has given 22 percent return to investors. The 52-week high of this share is Rs 565.50 and the 52-week low is Rs 290.
hope for further growth
The Government of India is trying to promote semiconductor manufacturing in the country. The Indian government is working on a major new economic package in addition to the Rs 76,000 crore stimulus already allocated for the semiconductor sector. The Rs 76,000 crore stimulus package launched in December 2021 aims to provide economic support to companies engaged in semiconductor manufacturing and investment. Market experts say that if the government gives more economic package for the semiconductor sector, then CG Power will benefit from it. Therefore, this stock is expected to rise in future.
(Disclaimer: The information given here is based on the performance of the shares. Since investing in the stock market is subject to market risk, please consult a certified investment advisor before investing. AyraNews24x7 Hindi is responsible for any loss you may incur. Will not done.)
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first published : May 6, 2024, 2:25 pm IST
