CG Power reverses from LC to UC

After having touched the LC almost every day, since yesterday, CG Power is going the other way now –  it hit the 5% UC yesterday at Rs.14.66 and today, it opened at the 5% UC at Rs.15.39. Volumes are more than robust at 2.5 times.

The market is happy with the news that the Registrar of Companies, Mumbai has granted extension of time by 2 months and 15 days from the due date i.e. September 30, 2019, for holding the 82nd AGM of the Company for the financial year ended on March 31, 2019. So now the deadline stands at 15th Nov.

And in another news from the company, Gautam Thapar moved the Securities Appellate Tribunal (SAT) against the order passed by SEBI, which barred him from the capital market for his alleged involvement in the accounting fraud at CG Power.

SAT adjourned a hearing the matter while directing the market regulator to provide Thapar’s counsel the investigation report based on which it passed the order dated September 18. SEBI has been given two days to submit its reply.