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Power Grid gains on getting investment approvals for system strengthening

Power Grid Corporation of India is currently trading at Rs. 205.90, up by 0.10 points or 0.05% from its previous closing of Rs. 205.80 on the BSE.

The scrip opened at Rs. 205.00 and has touched a high and low of Rs. 206.35 and Rs. 202.20 respectively. So far 20086 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 212.00 on 05-Jul-2019 and a 52 week low of Rs. 173.05 on 14-Feb-2019.

Last one week high and low of the scrip stood at Rs. 212.00 and Rs. 202.20 respectively. The current market cap of the company is Rs. 107666.11 crore.

The promoters holding in the company stood at 55.37%, while Institutions and Non-Institutions held 40.09% and 4.55% respectively.

Power Grid Corporation of India has received an investment approval for ‘System Strengthening – XXV in Southern Region’, at an estimated cost of Rs 154.72 crore with commissioning schedule within 24 months progressively from the date of investment approval and for ‘Western Region System Strengthening – XX (WRSS-XX)’ at an estimated cost of Rs 226.98 crore with commissioning schedule of 25 months progressively from the date of investment approval.

The Board of Directors of the company in their meeting held on July 03, 2019, approved the same.

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.

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