Power Grid Corporation Of India Ltd.

BSE: 532898 | NSE: POWERGRID
Large Cap | Power Generation/Distribution
257.85
0.60 (0.23%)
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Power Grid gains on receiving approval to invest Rs 1,184.45 crore

Date: 24-10-2016

Power Grid Corporation of India is currently trading at Rs. 177.45, up by 1.25 points or 0.71% from its previous closing of Rs. 176.20 on the BSE.

The scrip opened at Rs. 176.90 and has touched a high and low of Rs. 178.20 and Rs. 176.85 respectively. So far 25,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 187.70 on 06-Sep-2016 and a 52 week low of Rs. 126.25 on 29-Oct-2015.

Last one week high and low of the scrip stood at Rs. 180.55 and Rs. 174.55 respectively. The current market cap of the company is Rs. 92,834.00 crore.

The promoters holding in the company stood at 57.90%, while Institutions and Non-Institutions held 35.21% and 6.90% respectively.

Power Grid Corporation of India (Power Grid) has received its board's approval for investment proposals worth Rs 1,184.45 crore for power transmission related projects. The board of directors at its meeting held on October 22, 2016 approved for the same. The first investment approval is for augmentation of transformation capacity in Southern Region at an estimated cost of Rs 167.75 crore, with commissioning schedule of 30 months from the date of investment approval.

The second investment approval is for sub-station works associated with strengthening of transmission system beyond Vemagiri at an estimated cost of Rs 608.24 crore, with commissioning schedule of 30 months from the date of investment approval matching with the commissioning schedule of the transmission line to be implemented through TBCB route, while the third investment approval is of transmission system for Ultra Mega Solar Park at Tumkur (Pavagada), Karnataka - Phase-II (Part A) at an estimated cost of Rs 408.46 crore, with commissioning schedule of 27 months from the date of investment approval.

Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India. Power Grid transmits about 50% of the total power generated in India on its transmission network.