CG Power and Industrial Solutions shares jumped more than 2% after the company agreed to acquire the Radio Frequency (RF) Components business from Renesas Electronics America Inc. and its affiliates.
The RF Components acquisition includes equipment, intellectual property, inventories, customer contracts, licenses and key transferring employees. The acquisition is expected to be completed within 6 months, subject to regulatory approvals, including clearance from the Committee on Foreign Investment in the United States.
CG Power shares opened at ₹718, reaching a high of ₹739 and a low of ₹709. The stock is trading between a 52-week high of ₹814.40 and a low of ₹359.20.
As of 1:39 pm, CG Power shares were trading 2.29% higher at Rs 735.20 on the NSE.
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