Power Grid gains on board nod for investment proposals

The board has approved investment proposals for transmission projects worth over Rs 2,500 crore

Shares of Power Grid were up over 1% on the Bombay Stock Exchange after the company announced that the board at its meeting held on January 12 has approved investments proposals worth over Rs 2,500 crore.

The board has approved system strengthening in the southern region at an estimated cost of Rs 1,455.47 crore, the company said in a release.

The board has also approved investments in tranmission systems across select states including Madhya Pradesh and Andhra Pradesh among others.

The stock opened at Rs 142 and touched a high of Rs 144 on the BSE. At 2:20, over 4.6 million shares were traded on both the stock exchanges.