Power Grid Corporation of India bags five projects to establish transmission system

Today, the stock opened at Rs 217.45 and has touched a high and low of Rs 217.45 and Rs 214.20 respectively.

Bagging five projects

Power Grid Corporation of India has bagged five projects to establish an inter-state transmission system. The company has been declared as the successful bidder under Tariff based competitive bidding (TBCB). The company has bagged these projects on a build, own operate and transfer (BOOT) basis.

The company received Letters of Intent (LoI) on February 17, 2023, for projects - ‘Transmission Network Expansion in Gujarat associated with integration of RE projects from Khavda potential RE zone’, ‘Inter-regional ER-WR Interconnection’, ‘Establishment of Khavda Pooling Station-2 (KPS2) in Khavda RE Park’, ‘Transmission scheme for evacuation of 4.5GW RE injection at Khavda PS under Phase II- Part B’ and ‘Transmission scheme for evacuation of 4.5GW RE injection at Khavda PS under Phase II- Part C’.

Stock Price Movement

At 12 pm, the shares of Power Grid Corporation were trading at Rs 216.05, up by 2.3 points or 1.07% from its previous closing of Rs 213.75 on the BSE. The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high and low of Rs 248.25 and Rs 186.35, respectively. Last one week high and low of the scrip stood at Rs 217.00 and Rs 212.45 respectively. The current market cap of the company is Rs 149100.30 crore.

The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 45.50% and 3.16% respectively.

About the company

Power Grid Corporation of India Limited is a Maharatna CPSU and India’s largest electric power transmission company. GoI holds a 51.34% stake in the company as on March 31, 2021. PGCIL was incorporated in 1989 to set up extra-high voltage alternating current and high-voltage direct current (HVDC) transmission lines.