Wednesday 25 September 2013

Power Grid gains on getting nod for two investment proposal worth Rs 2,256 crore

Power Grid Corporation of India is currently trading at Rs. 99.50, up by 0.25 points or 0.25 % from its previous closing of Rs. 99.25 on the BSE.

The scrip opened at Rs. 99.00 and has touched a high and low of Rs. 99.95 and Rs. 98.25 respectively. So far 148488 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 122.45 on 21-Nov-2012 and a 52 week low of Rs. 86.70 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs. 103.95 and Rs. 98.10 respectively. The current market cap of the company is Rs. 46088.92 crore.

The promoters holding in the company stood at 69.42 % while Institutions and Non-Institutions held 22.26 % and 8.32 % respectively.

Power Grid Corporation of India (PGCIL) has received an approval for two investment proposal worth Rs 2,255.99 crore. The board of director at its meeting held on September 19, 2013 has approved for the same. The first investment approval is for transmission system associated with Mauda Stage-II (2x660 MW) generation project’ at an estimated cost of Rs 1,575.30 crore, with commissioning schedule of 32 months progressively from the date of investment approval.

The second investment approval is for Northern Region System Strengthening Scheme-XXV at an estimated cost of Rs 680.69 crore, with commissioning schedule of 30 months progressively from the date of investment approval.

Power Grid Corporation of India 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.

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