For CG Power, the trouble started long before it reported serious lapses2 min read 21 Aug 2019, 01:08 PM IST
CG Power’s market cap has declined by about ₹400 crore since it reported the unauthorized transactions
The overseas businesses, which accounted for half of CGL’s revenue, were an overhang as the global slowdown began hurting profitability
Shares of CG Power and Industrial Solutions Ltd have tumbled 36% in the last two trading sessions on news of serious accounting lapses at the company. The stock has been languishing at the lower circuit for the past two days because no one knows the extent of the trouble at the company.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started