Better prospects turn analysts positive on CG Power & Industrial Solutions

Global businesses continue to be a drag on consolidated financials

CG Power and Industrial Solutions has seen its market capitalisation erode by almost half from the January highs to the lows of this Wednesday, largely due to concern on its losing international operations. While restructuring and discontinuing of operations in Ireland and Belgium are in progress, delay in sale of the business in Hungary keeps the Street worried. 

For one, the latter is incurring a quarterly loss of Rs 1 billion. Its sale will ease the consolidated numbers, as related debt will also go off the balance sheet. While the Street awaits news on this, after the steep share price