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Last Updated : Sep 05, 2019 10:19 AM IST | Source: Moneycontrol.com

Power Grid gains 3% on receiving LoI for MP projects

The Letter of Intent includes construction of 400 kV substation and construction of 220 kV substation in Madhya Pradesh.

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Share price of Power Grid Corporation of India added 3.5 percent intraday on September 5 after the company declared successful bidder for projects in Madhya Pradesh.

The company has been declared as the successful bidder under tariff based competitive bidding to establish transmission system for intra-state transmission work.

It includes construction of 400 kV substation near Guna and intra-state transmission work associated with construction of 220 kV substation near Bhind in Madhya Pradesh on build, own operate and maintain (BOOM) basis.

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The transmission system also comprises associated 400kV, 220kV and 132kV transmission lines in the state of Madhya Pradesh.

The company has received Letter of Intent (LoI) on September 4, 2019.

At 0956 hrs, Power Grid Corporation of India was quoting at Rs 200.60, up Rs 3.75, or 1.91 percent on the BSE.

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First Published on Sep 5, 2019 10:19 am
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