CGPOWER

March 21 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• CG POWER AND INDUSTRIAL SOLUTIONS - UNIT AXIRO SEMICONDUCTOR INCORPORATED UNIT IN SHENZHEN, CHINA

Source text: [ID:]

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March 20 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• EXPANDS CONSUMER DURABLES PORTFOLIO

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March 18 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• INTERIM DIVIDEND OF 1.3 RUPEES PER SHARE

Source text: ID:nNSE8t5cBz

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March 11 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• ENTERS LONG-TERM SUPPLY AGREEMENT WITH KINET RAILWAY SOLUTIONS

• SECURES ORDER BETWEEN 4 BILLION RUPEES-4.50 BILLION RUPEES FOR VANDE BHARAT TRAINSETS

Source text: ID:nBSE4VDHRN

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Jan 17 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• ENTERS FISCAL SUPPORT AGREEMENT FOR OSAT FACILITY

Source text: ID:nNSE45pdl

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Dec 5 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• GOT ORDER DIRECTING CO TO DEPOSIT 48.9 MILLION RUPEES

• ORDER SAYS BALANCE DEMAND STAYED TILL DISPOSAL OF APPEAL BEFORE CIT(A)

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Nov 27 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• G.G.TRONICS INDIA SECURED KAVACH ORDER

• ORDER VALUE IS RANGING BETWEEN 5 BILLION RUPEES TO 6 BILLION RUPEES

Source text: ID:nBSE7m7hQF

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Oct 21 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• CG POWER EXEC: WILL KEEP EXPANDING ON POWER TRANSFORMER CAPACITY DUE TO STRONG DEMAND

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Oct 18 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• CG POWER AND INDUSTRIAL SOLUTIONS LTD - TO CONSIDER PROPOSAL FOR RAISING OF FUNDS

Source text for Eikon: ID:nnAPN2B0W00

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CG Power and Industrial Solutions Ltd CGPO.NS:

• CG POWER AND INDUSTRIAL SOLUTIONS - GOT GST ORDER WITH PENALTY OF 1.3 MILLION RUPEES

Source text for Eikon: [ID:]

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May 6 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• CG POWER AND INDUSTRIAL SOLUTIONS MARCH-QUARTER CONSOL NET PAT 2.34 BILLION RUPEES VERSUS 4.26 BILLION RUPEES

• CG POWER AND INDUSTRIAL SOLUTIONS MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 21.92 BILLION RUPEES VERSUS 19.03 BILLION RUPEES

Source text for Eikon: ID:nBSE5d8LLr

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April 8 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• CG POWER AND INDUSTRIAL SOLUTIONS LTD - GETS TAX DEMAND NOTICE WITH PENALTY OF 41 MILLION RUPEES

Source text for Eikon: ID:nBSE4hFf7x

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March 13 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• UNIT FACILITY WILL BE SET UP IN AROUND 28 ACRES LAND WITH INVESTMENT OF 76 BILLION RUPEES OVER FIVE YEARS

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Adds minister quote, background in paragraphs 4-6

NEW DELHI, Feb 29 (Reuters) - India gave the go-ahead to construction of three semiconductor plants worth 1.26 trillion rupees ($15.2 billion) by firms including Tata Group and CG Power on Thursday, as the country pursues its goal of becoming an electronics powerhouse.

India, which is seeking to rival countries such as Taiwan in chipmaking, expects its semiconductor market to be worth $63 billion by 2026, but does not yet have a chipmaking facility.

Prime Minister Narendra Modi wants to make India a chipmaker for the world as his government tries to overcome setbacks faced in its bid to offer $10 billion in incentives to the industry.

Indian Electronics Minister Ashwini Vaishnaw said construction will begin on the plants within the next 100 days, adding that they will manufacture and package chips for sectors including defence, automobiles and telecommunication.

"This is a big decision for the country and a key accomplishment towards making India a self-dependent country," Vaishnaw told reporters.

He did not give updates on other key chipmaking applicants, including Indian conglomerate Vedanta VDAN.NS, Taiwan's Foxconn 2317.TW and Israel's Tower Semiconductor TSEM.TA.

Tata will partner with Taiwan's Powerchip 6770.TW to set up India's first chipmaking plant worth 910 billion rupees in Gujarat state's Dholera, he said, while CG Power CGPO.NS will partner with Japan's Renesas Electronics Corp 6723.T and Thailand's Stars Microelectronics SMT.BK for a 76 billion rupees chip packaging plant, also in Gujarat.

A third chip packaging plant worth 270 billion rupees will be set up in the eastern state of Assam by Tata unit Tata Semiconductor Assembly and Test Pvt Ltd, Vaishnaw added.

($1 = 82.9061 Indian rupees)

(Reporting by Shivam Patel in New Delhi; Editing by YP Rajesh and Alexander Smith)

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BENGALURU, Feb 9 (Reuters) - CG Power and Industrial Solutions CGPO.NS said it has partnered with a unit of Japanese chipmaker Renesas Electronics 6723.T and Thailand's Stars Microelectronics SMT.BK to set up a semiconductor facility in India for $222 million.

The Indian heavy electrical equipment maker will form a joint venture (JV) with Renesas Electronics America and the Thai electronic parts maker to set up an outsourced semiconductor assembly and testing (OSAT) facility, it said late on Thursday.

An OSAT plant packages, assembles and tests foundry-made silicon wafers, turning them into finished semiconductor chips.

Renesas and Stars will hold 6.76% and 0.9% stakes, respectively, in the joint venture, while CG Power will own the majority 92.34% stake.

The deal comes at a time when India is aiming to kickstart domestic manufacturing of chips by doling out about $10 billion in incentives for the sector.

While the country does not yet have any semiconductor manufacturing plants, Taiwan's Foxconn 2317.TW and Indian oil-to-metals conglomerate Vedanta VDAN.NS are in the fray to make chips in India.

Shares of CG Power ended mostly flat on Friday.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Eileen Soreng)

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Jan 23 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• DEC-QUARTER CONSOL NET PAT 7.48 BILLION RUPEES VERSUS PROFIT 2.28 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 19.79 BILLION RUPEES VERSUS 17.53 BILLION RUPEES

• DIVIDEND 1.30 RUPEES PER SHARE

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Nov 22 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• FILED APPLICATION SEEKING APPROVAL TO SET UP OUTSOURCED SEMICONDUCTOR ASSEMBLY AND TEST FACILITY

• CO ALSO SEEKING GRANT OF SUBSIDY FOR THE PROJECT

• ESTIMATED INVESTMENT ON THE PROJECT OVER A PERIOD OF FIVE YEARS IS $791 MILLION

• SEEKING APPROVAL FROM MINISTRY OF ELECTRONICS AND INFORMATION TECHNOLOGY, GOVERNMENT OF INDIA

Source text for Eikon: ID:nBSE3rVK84

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Oct 20 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• TO EXPAND CAPACITY AT LARGE INDUSTRIAL MACHINE, SWITCHGEAR, POWER TRANSFORMERS UNITS

• CAPITAL OUTLAY FOR SWITCHGEAR DIVISION CAPACITY EXPANSION AT 1.55 BILLION RUPEES

• APPROVED EXPANSION OF CAPACITY AT POWER TRANSFORMERS (T3 UNIT) BY INVESTING 1.26 BLN RUPEES

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July 27 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• INDIA'S CG POWER AND INDUSTRIAL SOLUTIONS JUNE-QUARTER CONSOL NET PAT 2.04 BILLION RUPEES VERSUS PROFIT 1.30 BILLION RUPEES

• CG POWER AND INDUSTRIAL SOLUTIONS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 18.74 BILLION RUPEES VERSUS 16.43 BILLION RUPEES

Source text for Eikon: ID:nBSE9n83Pt

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BENGALURU, May 23 (Reuters) - Bajaj Electricals Ltd BJEL.NS on Tuesday reported a nearly 32% jump in fourth-quarter profit as shoppers spent more on durable goods like fans and air coolers amid soaring temperatures.

Consolidated net profit was 518.5 million rupees ($6.3 million) for the three months ended March 31, compared with 393.5 million rupees a year earlier.

Extreme heat waves across the country are driving the sales of consumer durables such as air coolers and air conditioners.

Overall revenue from operations climbed about 12% to 14.90 billion rupees on the back of strength in consumer products business, which includes air coolers, fans, room heaters and kitchen appliances.

Revenue from the segment, which accounts for more than two-thirds of the business, reported an 8.7% increase to 9.87 billion rupees, even as the company faced pricing constraints and a demand slowdown, Chairman Shekhar Bajaj said in a statement.

Expenses rose 11% in the face of inflationary pressures. Order book as on April 1 stood at 17.61 billion rupees mostly on power distribution and transmission line towers projects, the Bajaj Group company said.

The order book as of April 1, 2022, was 9.64 billion rupees, the company said in May last year.

Revenue at the engineering, procurement and construction (EPC) division that houses its power distribution and transmission line towers projects jumped nearly 60% in the latest quarter.

The board also recommended a final dividend of 4 rupees per share for the fiscal year ended March.

Earlier this month, rival Havells India Ltd HVEL.NS reported a strong quarterly profit on rising demand for air conditioners.

($1 = 81.7800 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru; Editing by Dhanya Ann Thoppil)

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May 8 (Reuters) - CG Power and Industrial Solutions Ltd CGPO.NS:

• MARCH-QTR CONSOL NET PROFIT 4.26 BILLION RUPEES VERSUS 1.11 BILLION RUPEES

• MARCH-QTR CONSOL REVENUE FROM OPERATIONS 19.03 BILLION RUPEES VERSUS 14.85 BILLION RUPEES

Source text for Eikon: [ID:]

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April 20 (Reuters) - India's market regulator penalised two former auditors of CG Power and Industrial Solutions Ltd CGPO.NS on Thursday for rule violations, according to an order published on the regulator's website.

The Securities and Exchange Board of India (SEBI) levied a penalty of 500,000 rupees each on the auditors, Chaturvedi & Shah, and K. K. Mankeshwar & Co.

In its order, the regulator held that instead of working in the interest of the shareholders of CG Power, the auditors "facilitated the scheme of cleaning up the books of accounts of CG Power".

And that despite being aware of the irregularities and misstatements in the financial statements of CG Power, the auditors "certified the books as true and fair".

(Reporting by Jayshree P Upadhyay in Mumbai; Editing by Pooja Desai)

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