Power Grid Corporation bags new projects, share price rise 3%; details here

The surge in Power Grid Corporation share price came after the company's announcement that it had been declared the successful bidder under Tariff based competitive bidding for 3 projects

Shares of state-owned power generation Maharatna company, Power Grid Corporation of India, jumped 2.71 per cent to the day's high of Rs 260.90 on the National Stock Exchange (NSE) during intra-day trading on Wednesday, February 5, 2025.

 

The northward movement in the share price of Power Grid Corporation came after the company's announcement that it had been declared the successful bidder under Tariff based competitive bidding for three projects to establish the Inter-state transmission system on a build, own, operate, and transfer (BOOT) basis.

 

In an exchange filing, the company said that these projects include: (1) Transmission system for evacuation of power from Rajasthan REZ Ph-V (Part-1: 4 GW) [Sirohi/Nagaur] Complex; (2) Augmentation of transformation capacity at Banaskantha (Raghunath) PS (GIS); and (3) Transmission system for integration of Kurnool-IV REZ - Phase-I (for 4.5 GW).  READ: BSE shares extend fall, down 9% today; plunge 32% in 8 days, here's why

 

 

Incorporated on October 23, 1989, Power Grid Corporation of India is a Schedule ‘A’, ‘Maharatna’ public sector enterprise of the Government of India. The company is engaged in the implementation, operation, and maintenance of the Inter-State Transmission System (ISTS), telecom, and consultancy services. Power Grid Corporation is a listed company, with 51.34 per cent of the shares held by the Government of India, and the balance held by institutional investors and the public.

 

As of March 5, 2025, Power Grid Corporation enjoys a market capitalisation of Rs 2,40,885.64 crore on the NSE. The company is a constituent of the NSE Nifty50 and BSE Sensex.

 

The Maharatna stock price has declined nearly 8 per cent in the last six months and 12 per cent in the last one year.  READ: Welspun Specialty stock hits 5% upper circuit on Rs 232-cr order win

 

Power Grid Corporation shares have a 52-week range of Rs 366.20 - Rs 247.30 on the BSE.

 

At around 10:27 AM on Wednesday, Power Grid Corporation shares were quoted at Rs 260.40, up 2.52 per cent from its previous close of Rs 254 on the NSE. A combined total of nearly 3.47 million equity shares of Power Grid Corporation, estimated to be worth Rs 90 crore, exchanged hands on the NSE and BSE.

 

Meanwhile, the benchmark equity indices were trading higher on Wednesday. The BSE Sensex was quoted 443 points or 0.61 per cent higher at 73,433, and the NSE Nifty50 was up by 157 points or 0.71 per cent at 22,239.