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Stocks in news: Power Grid bags 3 inter-state transmission projects
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Power Grid Corp. of India Ltd has bagged three inter-state transmission projects under tariff-based competitive bidding, the company said in a stock market exchange filing. The Maharatna public sector undertaking has been declared as the successful bidder under tariff-based competitive bidding to establish an inter-state transmission system for three projects on build, own operate and …
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Power Grid Corp. of India Ltd has bagged three inter-state transmission projects under tariff-based competitive bidding, the company said in a stock market exchange filing. The Maharatna public sector undertaking has been declared as the successful bidder under tariff-based competitive bidding to establish an inter-state transmission system for three projects on build, own operate and transfer (BOOT), the filing added.
The first project is the Transmission System for the evacuation of power from Rajasthan (Jaisalmer/Barmer Complex). The project comprises the establishment of a new 765/400/220 kV pooling substation at Mandsaur, 765kV D/C Transmission Line and an extension of associated bays at an existing substation in Madhya Pradesh.
The second project, Transmission System for Evacuation of Power from potential renewable energy zone at Khavda in Gujarat, comprises augmentation works at an existing substation in the state.
The third project is a transmission system for the evacuation of power from Rajasthan, involving the establishment of a new 765 kV sub-station at Rishabhdeo, 765 kV D/C transmission lines and the extension of associated bays at other substations in Rajasthan and Madhya Pradesh.
Power Grid share price settled at ₹274.35 on the BSE, flat in the green in a weak market on Tuesday. So far this year, the Maharatna PSU stock has gained more than 15%, while the one-year return on the scrip is nearly 55%.
The PSU reported a 10.5% year-on-year (YoY) increase in net profit at ₹4,028.3 crore for the third quarter that ended December 31, 2023.
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