Power Grid Corporation Of India Ltd.

Power Grid Corporation of India is currently trading at Rs. 167.00, up by 4.25 points or 2.61% from its previous closing of Rs. 162.75 on the BSE.

The scrip opened at Rs. 163.50 and has touched a high and low of Rs. 167.35 and Rs. 163.20 respectively. So far 58,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 171.00 on 11-Jul-2016 and a 52 week low of Rs. 120.75 on 07-Sep-2015.

Last one week high and low of the scrip stood at Rs. 169.80 and Rs. 162.20 respectively. The current market cap of the company is Rs. 87,367.55 crore.

The promoters holding in the company stood at 57.90%, while Institutions and Non-Institutions held 34.93% and 7.18% respectively.

Power Grid Corporation has received its board’s approval to invest Rs 2,731 crore in various projects, including setting up of a transmission system for solar park at Bhadla in Rajasthan for Rs 1,429.38 crore. The company’s board approved as many as 11 proposals in its meeting held on July 20.

The transmission system for solar park at Bhadla in Rajasthan at an estimated cost of Rs 1,429.38 crore with commissioning schedule of 30 months from the date of investment approval is among the approved proposals. The investment approval also include transmission system strengthening for independent power projects in Chhattisgarh and other generation projects in Western region at an estimated cost of Rs 333.17 crore with commissioning schedule progressively by March, 2019.

The company will also invest in transmission system strengthening associated with Mundra Ultra Mega Power Project (Part-B) at an estimated cost of Rs 300.94 crore, with commissioning schedule of 29 months from the date of investment approval. The projects also include Western Region Strengthening Scheme XVI at an estimated investment cost of Rs 150.99 crore, with commissioning schedule of 24 months from the date of investment approval.