Power Grid shines on acquiring NRSS XXXI (A) Transmission under Tariff based competitive bidding

Power Grid Corporation of India is currently trading at Rs. 114.05, up by 2.60 points or 2.33% from its previous closing of Rs. 111.45 on the BSE. The scrip opened at Rs. 112.00 and has touched a high and low of Rs. 115.20 and Rs. 112.00 respectively. So far 251369 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 116.70 on 17-May-2013 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. 113.00 and Rs. 102.00 respectively. The current market cap of the company is Rs. 60137.12 crore. The promoters holding in the company stood at 57.90% while Institutions and Non-Institutions held 34.63% and 7.47% respectively. Power Grid Corporation of India (PGCIL), pursuant to its selection as the successful bidder under Tariff based competitive bidding, has acquired NRSS XXXI (A) Transmission, the Special Purpose Vehicle (SPV) on May 12, 2014 from REC Transmission Projects Company, to establish the transmission system for Northern Region System Strengthening Scheme NRSS- XXXI PART-A; on build own operate and maintain (BOOM) basis. The elements to be implemented under the NRSS XXXI (PART-A) are - 400/220kV Gas Insulated Sub-station (GIS) at Kala Amb (Himachal Pradesh); LILO of both circuits of Karcham Wangtoo - Abdullapur 400 kV D/C Quad line at Kala Amb; and 40% series Compensation on 400 kV Karcham Wangtoo - Kala Amb D/C Quad line at Kala Amb. Power Grid Corporation of India is engaged in bulk power transmission and its responsibility includes planning, coordination, supervision and control over inter-State transmission system and operation of National and Regional Power Grids.