Power Grid Corporation Of India Ltd.

PowerGrid Corporation is currently trading at Rs. 97.05, up by 0.75 points or 0.78% from its previous closing of Rs. 96.30 on the BSE.

The scrip opened at Rs. 97.00 and has touched a high and low of Rs. 97.15 and Rs. 95.25 respectively. So far 66932 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 112.35 on 15-Jul-2011 and a 52 week low of Rs. 93.60 on 12-Sep-2011.

Last one week high and low of the scrip stood at Rs. 99.90 and Rs. 95.25 respectively. The current market cap of the company is Rs. 44584.26 crore.

The promoters holding in the company stood at 69.42% while Institutions and Non-Institutions held 21.42% and 9.16% respectively.

PowerGrid Corporation of India (PGCIL) has signed a memorandum of understanding (MOU) with Rashtriya Ispat Nigam (RINL), a holding company of Visakhapatnam Steel Plant (VSP) to set up a joint venture company (JVC). This JVC will manufacture transmission line towers and their parts, and also undertake research and development of high-end products.

The JVC will address the issue of import of quality tower transmission lines and will bring synergy between RINL - the producer and PGCIL - the user. The JVC will also have a unique opportunity to tap the market in South East Asia and other areas where such development was taking place in power sector.

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.

RINL is one of the premier steel making companies, having created a niche globally for its quality, innovativeness in adding a range of products to its existing mix, customer- friendliness, and thriving to become a world- class company in all fronts.