UBS Raises Price Target for CG Power Despite 1.5% Share Decline

CG Power shares fell 1.5% on March 23, despite UBS raising its price target to ₹900 from ₹840, indicating 32% upside. UBS maintains a 'buy' rating, suggesting the worst of the company's industrial challenges is behind. CG Power's Q3 results met revenue expectations but missed profit and margin forecasts, with a semiconductor unit reporting an EBITDA loss of ₹40 crore. The company is positioned for growth, particularly in exports and domestic markets, despite challenges.

Published Mar 23, 2026

CG Power and Industrial Solutions Ltd. shares declined 1.5% to ₹671.5 on March 23, despite UBS raising its price target from ₹840 to ₹900, indicating a potential upside of 32%. UBS maintains a 'buy' rating, asserting that CG Power is past its industrial challenges.

AI-curated by Theia

The company's third quarter results showed revenue in line with estimates but missed profit and margin expectations, with overall margins contracting due to ongoing semiconductor investments. The semiconductor segment reported an EBITDA loss of ₹40 crore in Q3. While exports are a growth area, UBS noted that domestic demand in rail and industrial motors is improving for the next year.