10-10-2024 03:32 PM | Source: Accord Fintech
Power Grid Corporation soars on emerging as successful bidder for Transmission system project in Rajasthan

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Power Grid Corporation of India is currently trading at Rs. 333.60, up by 3.85 points or 1.17% from its previous closing of Rs. 329.75 on the BSE.

The scrip opened at Rs. 330.85 and has touched a high and low of Rs. 338.00 and Rs. 330.10 respectively. So far 278673 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 366.20 on 25-Sep-2024 and a 52 week low of Rs. 196.20 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 347.50 and Rs. 322.40 respectively. The current market cap of the company is Rs. 310407.65 crore.

The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 45.04% and 3.62% respectively.

Power Grid Corporation of India has been declared as the successful bidder under Tariff based competitive bidding to establish Inter-State transmission system for the project namely ‘Transmission system for evacuation of power from Rajasthan REZ Ph -IV (Part-2: 5.5 GW) (Jaisalmer/Barmer Complex): Part F (By clubbing Part F1 & F2)’ on build, own, operate and transfer (BOOT) basis. The Letter of Intent (LoI) has been received by Power Grid Corporation of India on October 09, 2024.

The project comprises establishment of new 765/400/220kV Barmer-I Pooling substation, 765kV & 400kV D/C Transmission Lines and associated bays extension works at other existing substation in the State of Rajasthan.

Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.