Page 2 - Power Grid Corporation Of India

Power stocks dip up to 19% on June 4; Adani Green, Adani Energy top losers

At 10:16 AM, all constituents of the BSE Power Index were trading in negative territory

Power Grid Corporation Q4 results: PAT dips marginally to Rs 4,166 crore

State-owned Power Grid Corporation on Wednesday reported a nearly four per cent dip in its consolidated net profit to Rs 4,166.33 crore in the March 2024 quarter, mainly due to a marginal decline in income. The company reported a consolidated net profit of Rs 4,322.87 crore in the quarter ended on March 31, 2023, a BSE filing showed. Total income declined to Rs 12,305.39 crore in the quarter as compared to Rs 12,557.44 crore in the same period a year ago. For fiscal 2023-24, the consolidated net profit rose to Rs 15,573.16 crore from Rs 15,419.74 crore a year ago. Total income in the fiscal rose to Rs 46,913.12 crore as against Rs 46,605.64 crore in the year-ago period. The board also recommended a final dividend of Rs 2.75 per share (i.e. 27.5 per cent on the paid-up equity share capital) for the financial year 2023-24 subject to the approval of the shareholders at the ensuing annual general meeting of the company. The final dividend will be paid within 30 days from the date of

Buy PFC, Power Grid; Sell Bajaj Finance May futures, recommends Ajit Mishra

Ajit Mishra, SVP-Research of Religare Broking expects the Nifty to face resistance in the 22,300 - 22,400 range.

Indian Hotels, Power Grid, Federal Bank: Top 3 technical picks for May 14

There is a bullish butterfly pattern seen on hourly scale so based on these signals, we advise investors / traders to "go long" in Indian Hotels Company within the price range of Rs 545-555 per share

Power Grid Corporation stock surges 5% on bagging 3 transmission projects

Further, on Wednesday, Power Grid board approved a proposal to raise up to Rs 12,000 through the issuance of bonds in one or more tranches in FY25.

Skipper secures order worth Rs 737 crore from Power Grid Corporation

Skipper Limited, leading manufacturers for power transmission and distribution structures, on Sunday said it has secured an order worth Rs 737 crore from Power Grid Corporation of India Limited (PGCIL) for design, supply and construction of a cutting-edge 765 kV transmission line for the central PSU. Skipper director Sharan Bansal expressed enthusiasm about this latest achievement in the power transmission and distribution sector, emphasising the company's optimistic outlook on the industry. He highlighted the substantial boost to Skipper's order book in the transmission and distribution landscape, with the year-to-date order intake exceeding Rs 3,900 crore. "The orders from PGCIL have notably bolstered our order book in the transmission and distribution (T&D) landscape. With a year-to-date order intake surpassing Rs 3,900 crore, these recent victories are poised to significantly contribute to our envisioned growth trajectory in the foreseeable future," he said. The company, which

Power Grid Corporation Q3 results: Net profit rises 11% to Rs 4,028 crore

State-owned Power Grid Corporation on Wednesday posted a 10.5 per cent rise in consolidated net profit to Rs 4,028.25 crore in the December quarter, mainly on the back of higher revenues. Its consolidated net profit stood at Rs 3,645.29 crore in the year-ago period, the company said in a regulatory filing. Total income increased to Rs 11,819.70 crore in the third quarter of FY24 from Rs 11,530.22 crore a year ago. The company's board of directors, in their meeting on Wednesday, approved the payment of second interim dividend of Rs 4.50 per equity share of Rs 10 each (at the rate of 45 per cent of the paid-up equity share capital) for 2023-24. The second interim dividend shall be paid to members on March 5, 2024.

State-owned Power Grid board approves raising Rs 2,200 crore via bonds

State-owned Power Grid Corporation board on Friday approved raising of Rs 2,200 crore through bonds. The company's committee of directors for bonds, in their meeting on July 29, 2023, approved the raising of up to Rs 5,700 crore in FY 23-24 in multiple tranches to part finance its capex requirement, for providing inter corporate loan(s) to wholly owned subsidiaries/JVs and for general corporate purposes, according to a regulatory filing. Further, it stated that the committee of director for bonds in their meeting on Friday approved the raising of up to Rs 2,200 crore towards the third tranche of bonds. The base issue size is Rs 500 crore with a greenshoe option of Rs 1,700 crore, the the filing added.

Stocks to Watch: Adani Group, TaMo, SJVN, Power Grid, Axis Bank, Zee Learn

Stocks to watch on Wednesday, December 27, 2023: Shares of Adani Group and three debutants' namely Happy Forgings, Mufti Menswear and RBI Jewellers likely to be in focus today.

Stocks to Watch today, Dec 6: Canara Bk, Somany, Zee Learn, Patanjali Foods

Stocks to Watch on Wednesday, December 6, 2023: Axis Bank has initiated Corporate Insolvency Resolution Process against Digital Ventures Private Limited, wholly-owned subsidiary of Zee Lear

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 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.

GE T&D India wins Rs 500 crore orders from Power Grid Corporation

GE T&D India on Tuesday said it has bagged Rs 500 crore orders from state-owned Power Grid Corporation of India for grid modernisation projects. These projects aim to facilitate the integration of renewable energy into the national electricity grid and enhance electricity transmission within the country, including in Rajasthan. "GE T&D India, a part of GE Vernova's Grid Solutions business, recently secured orders worth approximately Rs 500 crore from Power Grid Corporation of India (PGCIL) for the supply of 765 kV Power Transformers and Shunt Reactors for PGCIL's various transmission system projects in India," according to a BSE filing. "We are delighted to support PGCIL in the modernisation of India's grid infrastructure through the supply of locally manufactured equipment in alignment with the government's Make in India initiative," Sandeep Zanzaria, Managing Director and CEO of GE T&D India, said in the statement. To date, the company has successfully manufactured and ..

Power Grid Corp to raise up to Rs 2,250 crore via bonds to fund capex

The bonds are redeemable at par in 10 equal instalments and interest payment on a yearly basis

Parminder Chopra takes over as first full-time women PFC Chairman, MD

State-owned Power Finance Corporation (PFC) on Wednesday said Parminder Chopra has taken over as its first full-time women Chairman and Managing Director. "Parminder Chopra has been appointed as Chairman and Managing Director (CMD) of PFC by the Government of India from 14th August 2023. Previously, she was holding the additional charge of Chairman and Managing Director (CMD) from June 1, 2023, and was Director (Finance), PFC, since July 1, 2020," a company statement said. With this, the company said, Chopra becomes the first woman to lead India's largest non-banking finance company PFC. During her term as Director (Finance), she spearheaded the Finance Division, leading to the highest net profit, highest net worth and lowest NPA levels. Such robust financial performance has also facilitated PFC getting the highest status of 'Maharatna'. She also played a key role in the successful implementation of the Rs 1.12 lakh crore Liquidity Infusion Scheme (LIS) for the power distribution .

Street positive on long-term capex plans of Power Grid Corporation

The Q1FY24 saw adjusted net profit decline 5 per cent YoY and 17 per cent QoQ to Rs 3,600 crore

Power Grid stock may be fully pricing in near-term growth prospects

The company is a steady performer with good dividend yield (payout was Rs 14.75 in FY23, same as FY22)

Power Grid Corporation Q4 results: Net profit rises 4% to Rs 4,320 crore

The company's total income in the quarter under review increased to Rs 12,557.44 crore from Rs 11,067.94 crore a year ago

Power Grid Corporation board okays raising Rs 600 crore via bonds

State-owned Power Grid Corporation's board has approved rasing up to Rs 600 crore through bonds to be issued on private placement basis. "Committee of directors for bonds, in their meeting held today i.e. on 24th March, 2023, have approved the raising of unsecured, non-convertible, non-cumulative, redeemable, taxable POWERGRID Bonds-LXXII (72nd) issue 2022-23 on private placement up to Rs 600 crore by securitisation of cash flows of 10 years i.e. till FY 2032-33 of its operational SPV (special purpose vehicle) viz. 'POWERGRID NM Transmission Ltd' (PNMTL)," a BSE filing stated. It showed that the total issue size is Rs 600 crore, which includes base issue size of Rs 100 crore and green shoe option of Rs 500 crore. The bonds will be listed at BSE and/or NSE. Bonds are redeemable at par in 40 equal instalments and interest payment on quarterly basis, it stated.

REC transfers 6 SPVs to Power Grid Corporation for transmission projects

REC Ltd on Wednesday said its wholly-owned subsidiary REC Power Development and Consultancy Ltd (RECPDCL) has handed over six special purpose vehicles to Power Grid Corporation of India Ltd. The Special Purpose Vehicles (SPVs) are mostly for construction of transmission projects in Gujarat, REC Ltd said in a statement on Wednesday. "RECPDCL has handed over 6 projects' specific SPVs mostly formed for the construction of transmission projects in Khavda region through tariff-based-competitive bidding process on March 21, 2023. Power Grid Corporation of India Limited (PGCIL) was the successful bidder for all of the 6 projects of the Ministry of Power," it said. RECPDCL was the bid process coordinator for tariff-based competitive bidding in transmission line projects. "We are putting in all possible efforts to ensure the growth of new renewable power reforms to cater to the electricity capacity of the country. Tariff-based competitive bidding for the development of transmission systems