Power Grid Corporation surges on getting nod to raise upto Rs 5,700 crore in FY 23-24
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Power Grid Corporation is currently trading at Rs. 264.35, up by 6.10 points or 2.36% from its previous closing of Rs. 258.25 on the BSE.
The scrip opened at Rs. 262.40 and has touched a high and low of Rs. 266.50 and Rs. 259.35 respectively. So far 335290 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 266.50 on 31-Jul-2023 and a 52 week low of Rs. 186.35 on 26-Sep-2022.
Last one week high and low of the scrip stood at Rs. 266.50 and Rs. 242.80 respectively. The current market cap of the company is Rs. 184151.96 crore.
The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 45.70% and 2.95% respectively.
Power Grid Corporation of India has received approval to raise upto Rs 5,700 crore in FY 23-24 in mulitple tranches to part finance its capex requirement, for providing Inter Corporate Loans to wholly owned subsidiaries/JVs and for general corporate purposes by securitization of cash flows of 4 operational SPV viz. “POWERGRID Bhuj Transmission (PBTL), POWERGRID Khetri Transmission System (PKTSL), POWERGRID Medinipur Jeerat Transmission System (PMJTL) & POWERGRID Varanasi Transmission System (PVTSL) upto March, 2034. The Committee of Directors for Bonds, in their meeting held July 29, 2023, have approved the same.
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.
