Shares of Power Grid Corporation (PGCIL) rose by almost 4 per cent today amid fund raising plans and the company reporting 31 per cent jump in standalone net profit for the quarter ended December 31.
PGCIL's stock gained 3.87 per cent to close at Rs 143.75 on BSE. During the day, it climbed 4.33 per cent to Rs 144.40.
At NSE, shares of the company went up by 3.94 per cent to end at Rs 143.70.
State-run transmission utility PGCIL plans to raise around Rs 2,000 crore in February through domestic bonds to meet its capital expenditure requirements for executing ongoing projects.
The Navratna firm is also planning to raise up to Rs 2,000 crore through debt to meet its working capital requirements.
"We will be raising Rs 2,000 crore through domestic bonds in February. This will be primarily utilised for funding our capital requirements for executing various projects," a company official told PTI today.
PGCIL reported 31 per cent jump in standalone net profit at Rs 1,613.12 crore for the quarter ended December 31, on account of rise in revenue from its transmission business.
The company had reported a net profit of Rs 1,228.91 crore for the quarter ended December 31, 2014.
The total income for the third quarter increased to Rs 5,504.83 crore from Rs 4,486.11 crore in the corresponding period last fiscal.
