Maharatna Power Sector Company Approves Investment Worth Rs 389 Crore

Large cap maharatna company operating in Power sector, Power Grid Corporation of India Ltd declared on June 28 that its committee of directors accorded investment approvals to 3 projects worth approximately Rs 389 crore. Last trading price of Power Grid Corporation share is Rs 250.15 apiece with intraday gain of 0.26%. Check details below:

Power Grid Corporation Approves Investment Projects Worth Rs 389 Crore: According to the BSE filing of the company, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is to inform that 'Committee of Directors on Investment on Projects' of POWERGRID in its meeting held on 28th June, 2023 have accorded Investment approvals for the following:

1. "Investment proposal for change in scope for establishment of dedicated Telecom network for NTAMC" at an estimated cost of Rs.164.38 Crore.

2. Investment approval of "Western Region expansion scheme - XXXIII (WRES-XXXIII) - Part A" at an estimated cost of Rs. 115.09 Crore scheduled to be commissioned by 15 August, 2024; and

3. Investment approval for "ICT Augmentation at Navsari (New) associated with integration of additional 7 GW RE power from Khavda RE park under Phase-III" at an estimated cost of Rs.109.47 Crore scheduled to be commissioned in matching time frame of 'Transmission system for evacuation of additional 7 GW RE Power from Khavda RE Park under Phase-III Part-B' which is presently anticipated by 22 October, 2025."

Power Grid Corporation Stock Performance & Return Over Years: Last trading price of Power Grid Corporation share price is Rs 250.15 apiece with intraday gain of 0.26% on BSE. Its 52-week high price is Rs 259.00 per share and 52-week low price is Rs 186.35 apiece, respectively. The company has a market capitalisation of Rs 1,74,490.95 crore. Power Grid Corporation shares delivered 16% return YTD, offered over 18% return in last 1-year, 44% return in last 2-years, and 86% return in last 3-years.

Power Grid Corporation About: Power Grid Corporation of India Limited, is a Schedule 'A', 'Maharatna' Public Sector Enterprise of Government of India which was incorporated on 23rd Oct 1989 under the Company Act, 1956. It is a listed Company, with 51.34% holding of Government of India and the balance is held by Institutional Investors and public, as per its official website.