Power Grid gains on getting investment approval for transmission system

Power Grid Corporation of India is currently trading at Rs. 228.05, up by 2.90 points or 1.29% from its previous closing of Rs. 225.15 on the BSE.

The scrip opened at Rs. 224.60 and has touched a high and low of Rs. 228.45 and Rs. 224.60 respectively. So far 123360 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 248.25 on 10-May-2022 and a 52 week low of Rs. 186.35 on 26-Sep-2022.

Last one week high and low of the scrip stood at Rs. 228.75 and Rs. 223.05 respectively. The current market cap of the company is Rs. 158796.18 crore.

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

Power Grid Corporation of India has received an Investment Approval for ‘Transmission System for evacuation of power from Rajasthan REZ Ph-IV (Part-1) (Bikaner complex)- Part-E’ at an estimated cost of Rs 146.66 crore scheduled to be commissioned by May, 2024 (18 months from NCT letter).

The 'Committee of Directors on Investment on Projects' of the company in its meeting held on April 6, 2023 has accorded approval for the same.

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