PowerGrid hits record high, gains 4%; stock has rallied 18% in last 3 weeks

PowerGrid has a robust project pipeline worth Rs 27,500 crore and has capitalised around Rs 22,932 crore in the last four quarters, which provides earnings visibility for 2-3 years

Shares of PowerGrid Corporation hit a record high of Rs 214.80, up 4 per cent on the BSE in Thursday as robust project pipeline provides earnings visibility for 2-3 years for the company. The stock of state-owned electric utilities company surpassed its previous high of Rs 209.75 touched on October 18, 2021.

In the past three weeks, PowerGrid has outperformed the market by surging 18 per cent, as compared to 1.8 per cent decline in the S&P BSE Sensex. The company commissioned entire Raigarh-Pugalur 6,000 MW HVDC System on October 25, 2021.

For July-September quarter (Q2FY22), the company’s