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Finquest Financial Solutions sells 0.63% stake in CG Power

Capital Market 

Finquest Financial Solutions sold 40 lakh equity shares, or 0.63% equity, of CG Power and Industrial Solutions via bulk deal on 1 September 2020.

On Tuesday, 1 September 2020, Finquest Financial Solutions sold 40 lakh equity shares or 0.63% stake at Rs 23.80 per share via bulk deal on the BSE.

As of 30 June 2020, Finquest Financial Solutions held 1.63% stake in CG Power and Industrial Solutions.

On a consolidated basis, CG Power and Industrial Solutions reported net loss of Rs 288.06 crore in Q4 March 2020 compared with net loss of Rs 189.23 crore in Q4 March 2019. Net sales slumped 69% to Rs 616.25 crore in Q4 March 2020 over Q4 March 2019.

Shares of CG Power and Industrial Solutions advanced 4.18% to Rs 22.45 on BSE. Avantha Group Company, CG Power and Industrial Solutions (CG) is a global pioneering leader in the management and application of electrical energy. CG's offerings include electrical products, systems and services for utilities, power generation and industries.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, September 02 2020. 11:05 IST