Page 2 - Power Grid Corp

NSE, BSE impose Rs 5,42,800 fine each on Power Grid Corp for non-compliance

Leading exchanges BSE and NSE have imposed a fine of Rs 5,42,800 each on state-owned Power Grid Corporation for not having the required number of independent directors, including one woman. The NSE and BSE have imposed a fine of Rs 5,42,800 for non-compliance, Power Grid Corporation said in a regulatory filing said. It informed that the company has received notices from NSE and BSE on November 21, 2023, regarding non-compliance with the provision of Regulation 17(1) of the Sebi (LODR) for not having a requisite number of independent directors (including one woman independent director) on the Board during the quarter ended September 30, 2023. The company said that in response to the notices, it has requested NSE and BSE to grant a waiver of the fine with regard to non-compliance of Regulation 17(1) of the Sebi (LODR), Regulations, 2015. Powergrid, being a government company within the meaning of Section 2(45) of the Companies Act, 2013, the power to appoint functional/Official ...

Power Grid Corp board okays Rs 367 cr investment in transmission projects

State-owned Power Grid Corp board on Wednesday approved a proposal to invest about Rs 367 crore in electricity transmission projects. Committee of Directors on Investment on Projects' of Powergrid in its meeting held on November 22, 2023, has accorded investment approval for two projects, a BSE filing showed. As per the filing, the first project which got the approval is an augmentation of transformation capacity by 1X1500 MVA (3rd), 765/400 KV ICT at Maheshwaram (PG) substation in Telangana at an estimated cost of Rs 142.69 crore. It is scheduled to be commissioned within 21 months from the date of intimation by CTUIL (Central Transmission Utility) letter on July 10, 2023 -- by April 9, 2025. The board also approved the transmission System for Evacuation of Power from the Potential RE Zone in the Khavda Area of Gujarat under phase IV (7GW)- Part E4 at an estimated cost of Rs 224.41 crore, scheduled to be commissioned within 24 months from the date of intimation by CTUIL letter on

Power Grid Corp Q2 results: Net profit rises nearly 4% to Rs 3,781 cr

State-owned Power Grid Corp on Tuesday posted nearly four per cent rise in its consolidated net profit to Rs 3,781.42 crore compared to a year ago mainly on the back of higher revenues. Its consolidated net profit was Rs 3,650.29 crore in the quarter ended September last year, according to a BSE filing. Total income increased to Rs 11,530.43 crore in the quarter from Rs 11,349.44 crore in the same period a year ago. The company's board of directors has approved an interim dividend of Rs 4 per equity share worth Rs 10 each (at the rate of 40 per cent of the paid-up equity share capital) for the financial year 2023-24. The interim dividend shall be paid on December 6, 2023.

India Grid commissions its first battery energy storage system project

India Grid Trust on Wednesday said it has commissioned its first battery energy storage system (BESS) project coupled with its solar panels at the Dhule substation in Maharashtra. The project will meet the substation's auxiliary consumption requirement, a company statement said. It will not only "reduce our emissions but also act as a prototype for expanding our presence in energy transition opportunities in the sector," it stated. This facility will also act as a test bed for augmenting IndiGrid's capabilities to participate in energy transition opportunities in solar and BESS space, Chief Executive Officer, Harsh Shah said. "As operations at this project stabilize, we look forward to replicating similar systems across our other substations and reduce emissions of our operations," he added. IndiGrid is the first infrastructure investment trust in the Indian power sector. It owns 17 power projects, consisting of 46 transmission lines with more than 8,416 ckms (circuit kilometers)

Power Grid Corporation board approves raising up to Rs 900 cr via bonds

State-owned Power Grid Corporation of India on Monday said that its board has approved raising up to Rs 900 crore through issuance of non-convertible bonds on private placement basis. "Committee of Directors for Bonds, in their meeting held today i.e. on 9th March, 2023, have approved the raising of unsecured, non-convertible, non-cumulative, redeemable, taxable POWERGRID Bonds-LXXI (71 st) issue 2022-23 on private placement up to Rs 900 crore by securitization of cash flows of 10 years i.e, till FY 2032-33 of its operational SPV viz., 'POWERGRID Mithilanchal Transmission Ltd (PMTL)'," a BSE filing said. The base issue size will be Rs 300 crore with green shoe option of Rs 600 crore. The issue will be listed on NSE and/or BSE Ltd. In a separate filing, the company said, "Power Grid Corporation of India Ltd has been declared as successful bidder under tariff based competitive bidding to establish inter-state transmission system for Transmission System Strengthening Scheme for ...

Power Grid Corporation board approves investments of about Rs 4,071 crore

State-owned Power Grid Corporation's board has approved investments of nearly Rs 4,071 crore for two transmission projects in the country. "Board of Directors of POWERGRID in their meeting held on 6th March 2023, have accorded investment approvals," a BSE filing said. The board has approved the transmission system for Kurnool Wind Energy Zone/ Solar Energy Zone (AP) -- Part-A & Part-B -- at an estimated cost of Rs 3,546.94 crore, scheduled to be commissioned by November 2024. It has also approved the Eastern Region Expansion Scheme-XXIX (ERES-XXIX) at an estimated cost of Rs 524.04 crore, scheduled to be commissioned by November 2025.

Stocks to Watch: Reliance, Titan, TVS Motor, Power Grid, Equitas SFB, FMCG

Stocks to Watch: Titan on Wednesday said its sales in the April-June quarter were up nearly three-fold on a year-on-year basis, helped by a low base of the Covid-19 impacted quarter in the last year.

Invest in Power Grid as a play on steady earnings, asset monetisation

Attractive dividend pay-out and low valuations are other positives

Getting a breather: High commodity costs give debt relief to PSUs

Combined net debt stood at Rs 6.83 trillion at the end of March 2021

Betting on power: Insurers line up to invest in PGCIL and IndiGrid InvITs

The first power transmission InvIT of the country, IndiGrid, came out with a public issue of NCDs to raise up to Rs 1,000 crore last week

PowerGrid to offer Rs 10,384 crore worth of assets in InvIT next week

After IndiGrid and IRB InvIT fund, this will be the third publicly listed InvIT for the country and the second in the power transmission sector

Power Grid posts 26% rise in net profit to Rs 3,368 cr on higher revenues

Power Grid Corporation on Thursday posted 26 per cent rise in consolidated net profit at Rs 3,367.71 crore for December quarter 2020-21 mainly on the back of higher revenues.

Power trips in Mumbai: Financial capital, adjoining areas face rare outage

The outage even bought the city's suburban rail network to a halt even as stock exchanges continued to function

Electrical equipment makers stare at Rs 800-cr dues from states, Centre

This segment wants to disassociate itself from the power sector

Q1 results: Power Grid offers value, despite tariff concerns, stock gains

Healthy earnings trajectory for next three years keeps the Street positive

Strong growth visible for Power Grid

With Rs 1,09,000 cr of projects to start earning returns till FY21, earnings growth visibility remains strong

Power Grid Corp enters Rs 3,270 cr term loan pact with ICICI Bank

During the current fiscal, it has mobilised Rs 6,130 cr through issue of bonds under private placement