Power Grid surges on getting nod to raise funds up to Rs 6000 crore

Power Grid Corporation Of India is currently trading at Rs. 213.40, up by 2.80 points or 1.33% from its previous closing of Rs. 210.60 on the BSE.

power grid reports 52 rise in q4 net profit
power grid reports 52 rise in q4 net profit

The scrip opened at Rs. 213.00 and has touched a high and low of Rs. 215.20 and Rs. 212.00 respectively. So far 478471 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 248.25 on 10-May-2022 and a 52 week low of Rs. 167.00 on 29-Jul-2021.

Last one week high and low of the scrip stood at Rs. 215.95 and Rs. 205.25 respectively. The current market cap of the company is Rs. 148925.92 crore.

The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 45.37% and 3.29% respectively.

Power Grid Corporation of India has received approval to raise funds up to Rs 6,000 crore, from domestic market through issue of secured/ unsecured, non-convertible, noncumulative / cumulative, redeemable, taxable/ tax-free Debentures / Bonds under private placement during the Financial Year 2023-24 in upto twenty tranches/offers. The company has also received approval for sanction of Rupee term loan of upto Rs 5000 crore from Commercial Bank to meet capital expenditure and other business requirements. The Board of Directors of the company in their meeting held on July 05, 2022 have accorded the same.

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

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