Power Grid Declared Successful Bidder For Transmission System Project, Shares In Red

Public sector undertaking Power Grid Corporation emerged as successful bidder under Tariff Based Competitive Bidding to establish Inter-State Transmission System Project in Rajasthan. Current market price of Power Grid Corporation Of India share is Rs 252.95 per share with intraday fall of 0.53%. Power Grid shares offered return of 45% in last 2-years and 18% return year-to-date. It operates under power sector. Check details below:

According to the BSE filing of Power Grid issued on September 5, 2023, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI (LODR)), it is to inform that Power Grid Corporation of India Limited has been declared as successful bidder under Tariff Based Competitive Bidding to establish Inter-State Transmission System Project namely "Transmission system for evacuation of power from REZ in Rajasthan (20 GW) under Phase-III Part H" on Build, Own, Operate and Transfer (BOOT) basis. The Letter of Intent (LoI) has been received by Power Grid Corporation of India Limited on 04th September, 2023."

Power Grid Stock Performance & Return: Current market price of the PSU stock is Rs 252.95 per share on BSE. Its 52-week high price is Rs 266.85 per share and 52-week low price is Rs 186.35 per share, respectively. It has a market capitalisation of Rs 1,76,234.82 crore. Power Grid shares soared 11% in last 6-months, gained 12% in last 1-year, rallied 69% in last 5-years, and surged 240% in last 10-years.

Power Grid Corporation Financial Performance: The company for the quarter ended June 30, 2023 announced its consolidated total income at Rs 11,257.60 crore, down 10.35% as compared to the last quarter total income of Rs 12,557.44 crore. It announced its recent quarter net profit after tax at Rs 3602.25 crore.

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