CG Power continues uptrend; small cap stock surges 21% in a week

Shares of CG Power and Industrial Solutions surged over 4.5 percent to hit an intra-day high of Rs 44.25 on the National Stock Exchange.

The smallcap capital goods stock has risen more than 21 percent in the last one week, and 50 percent in the last one month. The one year-return on the stock remains negative though, with shares correcting by almost 47 percent.

An Economic Times report on Friday said that private equity major KKR and other lenders to the firm including Yes Bank and Bank of India AXA are in the process of converting their loans into equity.