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Why CG Power's US sale didn't enthuse investors

Much-delayed deal may be a small remedy for firm's Rs 1,200-cr total debt

Hamsini Karthik  |  Mumbai 

Every time there is news of CG Power & Industrial Solutions (formerly Crompton Greaves) selling its international business, the stock price would react positively.   However, this was not the case when on Wednesday the company announced that it has accepted a binding offer for sale of its power business in the US. The CG Power stock rose by just about a per cent.    Various reasons seem to have marred the Street mood: First, the deal, analysts said, having an enterprise value of $35 million was not surprising. “It is more or less in-line with the estimates,” ...

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First Published: Thu, June 22 2017. 00:19 IST
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