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27-Jan2017

Power Grid gains on inking MoU with ADWEA for cooperation in power transmission

Power Grid Corporation of India is currently trading at Rs. 203.80, up by 0.70 points or 0.34% from its previous closing of Rs. 203.10 on the BSE.

The scrip opened at Rs. 205.00 and has touched a high and low of Rs. 206.90 and Rs. 203.30 respectively. So far 63229 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 206.90 on 27-Jan-2017 and a 52 week low of Rs. 129.25 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 206.90 and Rs. 197.30 respectively. The current market cap of the company is Rs. 107404.54 crore.

The promoters holding in the company stood at 57.90%, while institutions and non-institutions held 35.03% and 7.08% respectively.

Power Grid Corporation of India (PGCIL) has inked a Memorandum of Understanding (MoU) with Abu Dhabi Water & Electricity Authority (ADWEA) & its group for cooperation in areas like smart grid, transmission technology and distribution.

The pact envisages cooperation in areas such as smart grid; transmission technology and providing capability development; and training in the field of operation & maintenance, asset management, project management, power transmission & distribution, etc. The central transmission utility shall also assist ADWEA in setting up an advanced 'World Class Capability Development institute' in the UAE.

Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India. Power Grid transmits about 50% of the total power generated in India on its transmission network.


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