Moneycontrol
Last Updated : Aug 20, 2018 12:29 PM IST | Source: Moneycontrol.com

CG Power gains 3% on strategic alliance with Tenaga Switchgear

As per the agreement, both the companies will collaborate in the Malaysian market.

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Shares of CG Power and Industrial Solutions gained 3 percent intraday Monday as entered into a strategic alliance agreement with Tenaga Switchgear Sdn. Bhd., Malaysia (TSG).

The agreement between the companies includes product development and promotion of 11 kV Gas Insulated Switchgear (GIS) in Malaysia to address the rapidly growing demand in this region.

As per the agreement, both the companies will collaborate in the Malaysian market.

K. N. Neelkant, CEO and Managing Director of CG Power said, "We are excited to partner with Tenaga Switchgear. This alliance enables both manufacturers to guarantee a complete and highquality offering, focused on market needs and to provide its customers with a comprehensive suite of products and services that delivers customer satisfaction."

At 11:47 hrs CG Power and Industrial Solutions was quoting at Rs 60.50, up Rs 1.05, or 1.77 percent.

Posted by Rakesh Patil
First Published on Aug 20, 2018 12:29 pm
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