CG Power share price: The stock jumped 6.91 per cent to hit an all-time high of Rs 584.90. Later, the stock gave up a major chunk of its gain and was last seen trading 1.93 per cent higher at Rs 557.65.
Kaynes Technology. InCred has downgraded this stock to 'HOLD' due to a significant run-up in the stock price & unfavourable risk-reward. InCred suggested a target of Rs 3,120 on the scrip.
Shares of CG Power and Industrial Solutions rose 12% after announcing a JV with Renesas Electronics and Stars Microelectronics to build a semiconductor facility in Sanand, Gujarat. The JV will invest Rs 7,600 crore over five years and aims to diversify into semiconductor manufacturing, leveraging the partners technology and expertise.
InCred said Kalpataru Projects is an infrastructure play backed by robust promoter bandwidth, which showcases its ability to initiate, expand, develop, grow and monetize assets.