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18-Aug2016

Power Grid soars on plan to participate in intra-state projects

Power Grid Corporation of India is currently trading at Rs 181.20, up by 6.65 points or 3.81% from its previous closing of Rs 174.55 on the BSE.

The scrip opened at Rs. 177.40 and has touched a high and low of Rs. 181.50 and Rs. 176.75 respectively. So far 751886 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 183.05 on 16-Aug-2016 and a 52 week low of Rs. 120.75 on 07-Sep-2015.

Last one week high and low of the scrip stood at Rs. 183.05 and Rs. 172.60 respectively. The current market cap of the company is Rs. 94639.46 crore.

The promoters holding in the company stood at 57.90%, while Institutions and Non-Institutions held 34.93% and 7.18% respectively.

Power Grid Corporation of India is reportedly planning to participate in intra-state projects, a deviation from its traditional role as the central power transmission utility that has been prompted by the reforms in state-run power distribution companies.

The firm plans to expand its consultancy services in states but it is more keen to participate in projects as a joint venture partner to different states and even take up projects on ownership basis as a developer.

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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