Power Grid soars on acquiring ER NER Transmission
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Power Grid is currently trading at Rs. 214.35, up by 6.05 points or 2.90% from its previous closing of Rs. 208.30 on the BSE.
The scrip opened at Rs. 209.50 and has touched a high and low of Rs. 214.80 and Rs. 209.50 respectively. So far 181254 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. 180.30 on 12-Nov-2021.
Last one week high and low of the scrip stood at Rs. 215.25 and Rs. 203.10 respectively. The current market cap of the company is Rs. 149135.18 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, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has acquired ER NER Transmission (ETL), the Project SPV to establish Inter-State Transmission System for System Strengthening Scheme for Eastern and North Eastern Regions, on build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator - REC Power Development and Consultancy.
The Inter State Transmission System comprises of Upgradation works at 400/132kV Banka (Bihar) with implementation schedule of 24 months and establishment of 220kV D/C Transmission lines passing through the states of Assam & Arunachal Pradesh and bays extension works with implementation schedule of 36 months.
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.
