Stocks

CG Power sees worst day in near 7 years on financial irregularities

Reuters August 21 | Updated on August 21, 2019 Published on August 21, 2019

Shares of CG Power And Industrial Solutions Ltd slump nearly 20 per cent to ₹11.85, their biggest percentage loss since October 5, 2012.

The industrial machinery maker will restate accounts after noting significant accounting irregularities. CG Power board, on Monday, was briefed on certain findings that may have potential implications on its financial position.

The shares hit lower circuit on second consecutive day. As of last close, stock down 67 per cent this year. At 10.15 am, the stocks of CG Power were trading at ₹11.80, down 20 per cent.

Published on August 21, 2019
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