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Power Grid surges on emerging as successful bidder for two transmission projects in UP

Power Grid Corporation of India is currently trading at Rs. 199.60, up by 1.05 points or 0.53% from its previous closing of Rs. 198.55 on the BSE.

The scrip opened at Rs. 198.35 and has touched a high and low of Rs. 200.30 and Rs. 198.05 respectively. So far 44747 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 216.20 on 01-Aug-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. 201.15 and Rs. 186.70 respectively. The current market cap of the company is Rs. 104370.21 crore.

The promoters holding in the company stood at 55.37%, while Institutions and Non-Institutions held 40.26% and 4.37% respectively.

Power Grid Corporation of India has been declared as the successful bidder in two Intra-State Transmission System Projects of Uttar Pradesh (UP) State under Tariff Based Competitive Bidding (TBCB).

The first project is for construction of 765/400/220 kV GIS Substation, Meerut with associated lines and 400/220/132 kV GIS Substation, Simbhaoli with associated Transmission lines; and other one is for construction of 765/ 400/ 220 kV GIS substation, Rampur and 400/ 220/ 132 kV GIS substation, Sambhal with associated transmission lines.

The aforementioned Projects are to be established under build, own operate and maintain (BOOM) basis and the Letters of Intent for both the Projects have been received on November 22, 2019 by Power Grid Corporation of India.

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

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