Power Grid Corporation Of India Ltd.

Power Grid Corporation of India is currently trading at Rs 114.90, up by 0.70 points or 0.61% from its previous closing of Rs 114.20 on the BSE.

The scrip opened at Rs 114.25 and has touched a high and low of Rs 115.20 and Rs 113.55 respectively. So far 88119 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 124.45 on 05-Sep-2012 and a 52 week low of Rs 98.15 on 18-Jan-2012.

Last one week high and low of the scrip stood at Rs 115.90 and Rs 112.30 respectively. The current market cap of the company is Rs 52987.21 crore.

The promoters holding in the company stood at 69.42% while Institutions and Non-Institutions held 21.31% and 9.27% respectively.

International credit rating agency, Standard & Poor’s Ratings Services has assigned ‘BBB-’ long-term corporate credit rating to power transmission company PowerGrid Corporation of India (PGCIL) with a negative outlook. The rating agency has also assigned ‘BBB-’ issue rating to the company’s proposed issue of up to $1 billion unsecured long-dated notes. The rating on the notes is subject to review of the final issuance documentation.

The said ratings assigned to the company reflects its near monopoly in inter-state transmission business in India and a stable regulatory framework with a cost plus tariff mechanism on most existing projects.

PGCIL is India’s principal electric power transmission company. It owns and operates most of India’s interstate and inter-regional electric power transmission systems with inter-regional power transfer capacity of about 20,800 MW and wheels nearly 45% of total power generated across India.