Power Grid Corporation of India gains on acquiring Neemuch Transmission
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Power Grid Corporation Of India is currently trading at Rs. 227.40, up by 1.15 points or 0.51% from its previous closing of Rs. 226.25 on the BSE.
The scrip opened at Rs. 226.00 and has touched a high and low of Rs. 228.10 and Rs. 226.00 respectively. So far 4368 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 248.25 on 10-May-2022 and a 52 week low of Rs. 170.25 on 08-Sep-2021.
Last one week high and low of the scrip stood at Rs. 230.70 and Rs. 223.45 respectively. The current market cap of the company is Rs. 157819.62 crore.
The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 45.42% and 3.24% respectively.
Power Grid Corporation of India has acquired Neemuch Transmission (NTL) on August 24, 2022, the Project SPV to establish ‘Transmission System for Evacuation of Power from Neemuch SEZ’, on build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator - REC Power Development and Consultancy. The Transmission system comprises establishment of two 400kV DIC Transmission lines passing through the states of Rajasthan and Madhya Pradesh, a new 400/220kV Pooling Substation at Neemuch (Madhya Pradesh) and 400kV bay extension works. The transmission system is an Inter State Transmission System Project and is to be completed in 18 months. The entity was acquired for aggregate value of about Rs 17.23 crore including 50,000 equity shares at par at Rs 10 each along with assets and liabilities of the Company as on the acquisition date.
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.
