Power Grid rises on getting nod for Rs 367 crore investment in transmission projects
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Power Grid Corporation of India is currently trading at Rs. 211.10, up by 0.25 points or 0.12% from its previous closing of Rs. 210.85 on the BSE.
The scrip opened at Rs. 211.75 and has touched a high and low of Rs. 212.05 and Rs. 210.25 respectively. So far 198056 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 215.10 on 13-Nov-2023 and a 52 week low of Rs. 153.34 on 09-Jan-2023.
Last one week high and low of the scrip stood at Rs. 213.10 and Rs. 207.95 respectively. The current market cap of the company is Rs. 196289.24 crore.
The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 45.22% and 3.44% respectively.
Power Grid Corporation of India has received an approval for augmentation of transformation capacity by 1X1500 MVA (3rd), 765/400 KV ICT at Maheshwaram (PG) Substation in Telangana at an estimated cost of Rs 142.69 crore scheduled to be commissioned within 21 months from the date of intimation by CTUIL (Central Transmission Utility) letter dated July 10, 2023, i.e., by April 9, 2025.
The company has also received an approval for transmission System for Evacuation of Power from Potential RE Zone in Khavda Area of Gujarat under phase IV (7GW) - Part E4 at an estimated cost of Rs 224.41 crore scheduled to be commissioned within 24 months from the date of intimation by CTUIL letter dated July 10, 2023 i.e. by July 9, 2025.
The 'Committee of Directors on Investment on Projects' of Power Grid in its meeting held on November 22, 2023 has accorded investment approval for the above projects.
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.
