Power Grid gains on getting nod for transmission projects worth Rs 677 crore
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Power Grid Corporation Of India is currently trading at Rs. 212.65, up by 1.30 points or 0.62% from its previous closing of Rs. 211.35 on the BSE.
The scrip opened at Rs. 212.95 and has touched a high and low of Rs. 213.40 and Rs. 212.35 respectively. So far 18400 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 220.85 on 27-Jan-2022 and a 52 week low of Rs. 148.88 on 12-Apr-2021.
Last one week high and low of the scrip stood at Rs. 217.75 and Rs. 211.00 respectively. The current market cap of the company is Rs. 147426.20 crore.
The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 36.61% and 12.05% respectively.
Power Grid Corporation of India has received approval for two projects from its ‘Committee of Directors on Investment on Projects’ for investments worth Rs 677.59 crore for transmission projects. The first project is for transmission system for evacuation of Power from Pakaldul HEP in Chenab Valley HEPs-LTA System at an estimated cost of Rs 318.12 crore, scheduled to be commissioned by April, 2025 (matching with Pakaldul hydroelectric power (HEP) generation).
The second project is for transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under Phase-II Part G1 at an estimated cost of Rs. 359.47 crore scheduled to be commissioned by September, 2023.
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.
