Powergrid stocks dips following block trade of 2.09 million shares

In the past 12 months, Powergrid stock has risen 71 percent, in line with Nifty's 27 percent gain during this period.

Powergrid Corporation shares declined over a percent after a large block trade of 2.09 million shares took place, according to Bloomberg. The details of the buyer and seller are not yet known.

At 1:08 pm, Powergrid shares were trading 1.4 percent lower at Rs 326.60 on the National Stock Exchange (NSE). So far this year, the stock has risen around 37 percent, beating Nifty's returns of 14 percent.

In the past 12 months, Powergrid stock has risen 71 percent, in line with Nifty's 27 percent gain during this period.

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The Maharatna CPSU under Ministry of Power recently acquired Bhadla-III & Bikaner-III Transmission Limited, the Project Special Purpose Vehicle (SPV) for the transmission system project for system strengthening for interconnections of Bhadla-III & Bikaner-III Complexon.

It was acquired from the PFC Consulting Limited (PFCCL) (Bid Process Coordinator)after competing with various private sector players and emerging as a successful bidder in Tariff Based Competitive Bidding (TBCB) process.

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