CG Power - Can Meet Our Targets, Much Ahead?

By Research Desk
about 25 days ago

CG Power scored its maiden century (not out) on 22-9-21, and Rs. 150  on 26-10-21, with a rise of over 30x shown in last 18 months, from a low of Rs. 5 on 31-3-20 to Rs. 151 now. We also expected stock to come out of ASM Framework (Additional Surveillance Measure), where it remained for about last 9 months.This is an extremely positive move, as stock has satisfied the exclusuion criteria applicable for ASM. Now next logical move to stock move out of T2T, as also, to revise the Band from 5% to upward range. This will make the stock to move upwards faster to Rs.200, maybe by this December, (ahead of our earlier estimates by warrant conversion due by March 22), with M cap to be at over Rs. 30K cr, by March 22, having 151.32 crore issued equity shares of Rs. 2.

Mcap is now at Rs. 20,300 cr. with FPI buying expected to be seen in next week as well, due to huge FII appetite is seen unsatiated. This has reinforced our more bullish view on the stock. We expect our earlier targets getting preponed surely by 3 months.

So, expect Rs. 200 by this December 21.
By then it will graduate to large cap as well.

This is not a Buy or Sell recommendation, while stock recommendations are provided exclusively to our paid members in the Member Zone.

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