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Power Grid soars on acquiring Sikar New Transmission

Power Grid Corporation of India is currently trading at Rs. 231.60, up by 5.45 points or 2.41% from its previous closing of Rs. 226.15 on the BSE.

The scrip opened at Rs. 226.50 and has touched a high and low of Rs. 232.95 and Rs. 226.50 respectively. So far 815361 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 239.80 on 18-May-2021 and a 52 week low of Rs. 154.65 on 15-Oct-2020.

Last one week high and low of the scrip stood at Rs. 232.95 and Rs. 223.75 respectively. The current market cap of the company is Rs. 121268.25 crore.

The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 42.16% and 6.50% respectively.

Power Grid Corporation of India, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has acquired Sikar New Transmission (SNTL), the Project SPV to establish Transmission system strengthening scheme for evacuation of power from solar energy zones in Rajasthan (8.1 GW) under phase II – Part C, on build, own, operate and maintain (BOOM) basis from the Bid Process Coordinator – REC Power Distribution Company.

The Transmission system comprises establishment of a new 765/400kV Substation at Sikar-II, 765kV D/C Transmission line, 400kV D/C Transmission line and associated Substation extension works in the State of Rajasthan. The transmission system is an Inter State Transmission System Project and is to be completed in 18 months.

Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India

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