Power Grid Corporation of India share price rose after the company received a Letter of Intent (LoI) to establish an inter-state transmission system.
At 09:33am Power Grid Corporation of India was quoting at Rs 344.15, up Rs 3.10, or 0.91 percent, on the BSE.
The company has been declared the successful bidder under a tariff-based competitive bidding process to set up dynamic reactive compensation at Khavda Pooling Station 1 (KPS1) and Khavda Pooling Station 3 (KPS3) on a build, own, operate, and transfer (BOOT) basis.
This project will involve the installation of STATCOMs at both pooling stations, along with necessary bay extension work in Gujarat.
Other Projects Won in September
The company has declared as the successful bidder to establish inter-state transmission project comprises establishment of new 765/400/220kV (GIS) sub-station at a suitable location near South of Olpad, 765kV & 400kV D/C Transmission Lines and associated bays extension works at other existing substation in the State of Gujarat.
Also, declared as the successful bidder to establish inter-state transmission system for the of establishment of new 765/400/220kV sub-station at Kurawar, 765kV & 400kV D/C Transmission Lines and associated bays extension works at other existing substation in the State of Madhya Pradesh.
And, won competitive bidding for augmentation of transformation capacity at Jam Khambhaliya PS (GIS) on BOOT basis. The project comprises of augmentation of transformation capacity and associated bays extension works at existing substation in the state of Gujarat.
The share touched a 52-week high of Rs 362.30 and a 52-week low of Rs 193.80 on 01 August, 2024 and 09 October, 2023, respectively.
Currently, the stock is trading 5.01 percent below its 52-week high and 77.58 percent above its 52-week low.
The share price jumped more than 70 percent in the last one-year.
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