Power Grid Corporation strengthens on inking agreement with BSNL for improving connectivity

Power Grid Corporation of India is currently trading at Rs 127.35, up by 3.20 points or 2.58% from its previous closing of Rs 124.15 on the BSE. The scrip opened at Rs 125.05 and has touched a high and low of Rs 128.60 and Rs. 125.05 respectively. So far 465351 shares were traded on the counter. The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 135.00 on 26-May-2014 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 126.55 and Rs 121.00 respectively. The current market cap of the company is Rs. 64950.19 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) has inked an agreement with state-owned telecom firm BSNL for improving connectivity in the north eastern region including Sikkim. The agreement envisages provisioning of bandwidth on optical fibre laid over the high tension electric transmission network of PGCIL. A total 34 links comprising multiple 10 Gbps capacity telecom circuits will be commissioned within 18 months. PGCIL 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.