Power Grid gains on executing MoU with RRVPNL
Power Grid Corporation of India is currently trading at Rs. 287.95, up by 2.45 points or 0.86% from its previous closing of Rs. 285.50 on the BSE.
The scrip opened at Rs. 285.30 and has touched a high and low of Rs. 288.10 and Rs. 282.85 respectively. So far 402922 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 298.95 on 07-Mar-2024 and a 52 week low of Rs. 164.06 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 298.95 and Rs. 282.85 respectively. The current market cap of the company is Rs. 265904.26 crore.
The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 45.28% and 3.37% respectively.
Power Grid Corporation of India has executed Memorandum of Understanding (MoU) with Rajasthan Rajya Vidyut Prasaran Nigam (RRVPNL) on March 10, 2024 to incorporate a Joint Venture (JV) Company for development of Intra State Transmission System in the state of Rajasthan with an equity Participation of 74% by Power Grid and 26% by RRVPNL. The proposed JV company shall undertake projects worth upto Rs 10,000 crore in a phased manner.
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.
