153% return in 3 years: PSU power stock in focus after acquiring 2 project SPVs - Do you own?

Power Grid Corp Share Price NSE, BSE: Shares of Power Grid Corp are in focus today as the company has acquired 2 project special purpose vehicles from PFC Consulting Ltd. The counter opened with a gain as equity benchmark indices continued their upward movement on Friday. The scrip started the session at Rs 335.50 - a gain of 0.47 per cent from the previous close of Rs 333.90. 

Power Grid Corp Share Price History

The PSU stock has given a positive return of around 78 per cent in one year and 96 per cent in two years. The counter has made investors wealthier by around 153 per cent in three years. The counter has already gained over 40 per cent this year.

Power Grid Corp in News

The two SPVs are Sirohi Transmission Ltd and Beawar-Mandsaur Transmission Ltd, a company statement said.

Sirohi Transmission shall implement a system comprising establishment of new 765/400 kV sub-station near Sirohi in Rajasthan, 765kV & 400kV D/C transmission lines and associated bays extension works at existing substation in the state.

Beawar-Mandsaur Transmission shall implement a system comprising establishment of 765kV D/C transmission line and associated bays extension works at existing sub-station in Rajasthan and Madhya Pradesh.

Both transmission systems are to be commissioned in 24 months.

According to the statement, the bid process coordinator for the two SPVs is PFC Consulting Ltd (PFCCL), which conducted a tariff-based competitive bidding.

POWERGRID, through its various project SPVs, is implementing transmission system projects being constructed on build, own, operate and transfer (BOOT) basis.

These projects will augment the Indian transmission infrastructure to evacuate green energy to the National Grid, thereby reducing dependency on fossil fuels, in line with the government's vision of achieving 500 GW renewable energy target by 2030.

With agency inputs