Shares of Power Grid Corporation of India touched 52-week high of Rs 240.35 in opening trade on January 2 after the company was declared as a successful bidder for an inter-state transmission system project.
At 09:21 hrs Power Grid Corporation of India was quoting at Rs 238.85, up Rs 1.10, or 0.46 percent, on the BSE.
".... has been declared as successful bidder under tariff based competitive bidding to establish inter-state transmission system for “Transmission system for evacuation of power from REZ in Rajasthan (20GW) under Phase-III Part D – Phase I” on build, own, operate and transfer (BOOT) basis," the company said in its release.
The scope of the project comprises establishment of two 765kV D/C transmission lines traversing Rajasthan and Delhi along with associated bay extension works at existing substations.
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Ravindra Kumar Tyagi, director (Operations), has assumed the post of chairman and managing director (CMD) of the company with effect from January 1, 2024 post superannuation of Sreekant Kandikuppa as CMD of the company.
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.
On December 29, the committee of director for bonds in their meeting 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.
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