Power Grid surges on inking pact to infuse funds in National High Power Test Laboratory
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Power Grid Corporation Of India is currently trading at Rs. 292.90, up by 2.35 points or 0.81% from its previous closing of Rs. 290.55 on the BSE.
The scrip opened at Rs. 291.65 and has touched a high and low of Rs. 294.40 and Rs. 289.25 respectively. So far 507916 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. 172.54 on 01-Jun-2023.
Last one week high and low of the scrip stood at Rs. 294.40 and Rs. 274.70 respectively. The current market cap of the company is Rs. 272554.19 crore.
The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 45.09% and 3.57% respectively.
Power Grid Corporation of India has inked a pact to infuse funds and take a 50 per cent stake in crisis-hit National High Power Test Laboratory (NHPTL). A supplementary joint venture agreement in this regard was signed on April 23, 2024, by shareholders of NHPTL.
NHPTL is a joint venture of NTPC, NHPC, POWERGRID, DVC & CPRI. The funds will be infused subject to the approval of the management of JV parties - NTPC, NHPC, DVC (Damodar Vally Corporation) and CPRI (Central Power Research Institute).
Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India.
