Power Grid Corporation shares hit 52-week high for second session

Power Grid Share Price BSE, NSE Today: Shares of Power Grid Corporation Of India Ltd hit their 52-week high for the second consecutive session in early trade on Thursday i.e. on December 7 despite the broader market being in red. 

Power Grid stock hit Rs 228, rising around 1.78 per cent in early trade. Last seen, the scrip was trading at Rs 226.55.

The counter has been gaining for the last five days and has risen 8.47 per cent in this period. Around 1.90 lakh shares of the company, with a market cap of 2,10,798 crore, had exchanged hands with an average price of Rs 226.71 at the time of writing the report. 

The counter has gained 26.28 per cent in the last six months. The stock has risen 40.46 per cent so far this year.

Meanwhile, Powergrid has emerged as a successful bidder to set up an inter-state transmission project. The company received a Letter of Intent (LoI) in this regard on Tuesday, Powergrid said in an exchange filing.

"Powergrid has been declared as successful bidder to establish Inter-State Transmission System (ISTS) project for transmission scheme for integration of renewable energy zone (phase-II) in Koppal-II (phase-A & B) and Gadag-II (phase-A) in Karnataka on Build, Own, Operate and Transfer basis," it said.

The project has been secured under tariff-based competitive bidding, the filing said.

The project comprises the establishment of a new 765/400kV Koppal-II pooling station, a new 400/220kV Gadag-II pooling station, two 765kV D/c transmission lines and one 400kV D/c transmission line traversing in the state of Karnataka besides associated bay extension works at Narendra and Raichur substations.

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