New Delhi, June 8 -- Shares of CG Power & Industrial Solutions are hovering near their record high of Rs.952 touched on Friday, taking total gains so far this year to about 45%. The company on Thursday commissioned a new extra-high-voltage (EHV) circuit-breaker facility, boosting capacity for the product by 80%.

CG manufactures power transmission equipment such as EHV transformers, circuit breakers and switchgear. The transmission capex cycle typically follows investments in power generation, and renewable energy spending has already accelerated in recent years.

The ministry of power estimates that evacuating electricity from the planned addition of 600 GW of renewable capacity by 2032 will require transmission investments of about Rs.9...