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06-Dec2018

Power Grid surges on emerging as successful bidder under TBCB

Power Grid Corporation of India is currently trading at Rs. 184.50, up by 1.10 points or 0.60% from its previous closing of Rs. 183.40 on the BSE.

The scrip opened at Rs. 185.00 and has touched a high and low of Rs. 185.60 and Rs. 183.60 respectively. So far 40293 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 217.00 on 24-May-2018 and a 52 week low of Rs. 174.25 on 26-Jul-2018.

Last one week high and low of the scrip stood at Rs. 189.25 and Rs. 178.45 respectively. The current market cap of the company is Rs. 96365.88 crore.

The promoters holding in the company stood at 56.34%, while Institutions and Non-Institutions held 39.01% and 4.65% respectively.

Power Grid Corporation of India has been declared as the successful bidder under Tariff based competitive bidding (TBCB) to establish 'Transmission System for Evacuation of Power from 2 x 660 MW Jawaharpur Thermal Power Project and construction of 400 kV substation at Firozabad along with associated Transmission Lines' on build, own operate and maintain (BOOM) basis.

The Project is an Intra-State transmission system of Uttar Pradesh and comprises 765kV, 400kV, 220kV and 132kV lines apart from establishing a new 400/220/132 kV Substation at Firozabad, Uttar Pradesh. The Letter of Intent (LoI) has been received on December 05, 2018. This is the first Intra State Transmission System Project won by Power Grid Corporation of India Limited under Tariff Based Competitive Bidding.

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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