Power Grid Corporation of India rose 1.91% to Rs 200.60 at 09:20 IST on BSE after the company secured order for setting up transmission system and transmission lines in Madhya Pradesh.
Meanwhile, the S&P BSE Sensex was up 120 points or 0.33% to 36844.38.
On the BSE, 41,000 shares were traded in the counter so far compared with average daily volumes of 4.15 lakh shares in the past one quarter. The stock hit a high of Rs 203.20 and a low of Rs 198.15 so far during the day.
The stock hit a 52-week high of Rs 216.2 on 01 August 2019. The stock hit a 52-week low of Rs 173.05 on 14 February 2019.
Power Grid Corporation of India was declared as the successful bidder under tariff based competitive bidding to establish transmission system for intra-state transmission work associated with construction of 400 kV substation near Guna (Distt.-Guna, Madhya Pradesh) and intra-state transmission work associated with construction of 220 kV substation near Bhind (Distt.-Bhind, Madhya Pradesh) on build, own operate and maintain (BOOM) basis.
The transmission system also comprises associated 400kV, 220kV and 132kV transmission lines in Madhya Pradesh. The letter of intent (LoI) dated 2 September 2019 was received by the company. The announcement was made after market hours yesterday, 4 September 2019.
Power Grid Corporation of India, a 'Navratna' company operating under Ministry of Power, is engaged in power transmission business.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
