PowerGrid Corporation surges 5%, hits record high in a volatile market

Overall, transmission bidding is likely to gather pace from FY23, which bodes well for PowerGrid Corporation, said Edelweiss in its analyst note.

Shares of PowerGrid Corporation hit a record high of Rs 223.35, on rallied 5 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes. The stock of the state-owned electric utilities company surpassed its previous high of Rs 220.85 touched on January 27, 2022.

At 10:16 am; the stock was up 1.3 per cent at Rs 215.90, as compared to 0.30 per cent gain on the S&P BSE Sensex. The trading volume at the counter jumped 1.3 times with a combined 9.3 million equity shares changing hands on the NSE and BSE.

PowerGrid Corporation is India’s