Multibagger Power Stock: Power Grid shares hit new 52-week high - Details

Power Grid Share Price NSE, BSE: Shares of state-owned Power Grid Corporation hit a new 52-week high as equity benchmark indices rebounded in early trade on Thursday amid a rally in global markets. The counter opened in green at Rs 348.45 and gained further to Rs 348.60 - also a new 52-week high. The 52-week low of the stock is Rs 177.60.

However,  it later fell down and last seen was the counter was trading at Rs 344.80. 

Power Grid Share Price History

The shares of Power Grid have given a positive return of 81 per cent in one year and 112 per cent in two years. The counter has already gained 45 per cent so far this year. 

Power Grid In News 

Meanwhile, the Power Grid Corp board has approved a proposal to increase the borrowing limit to Rs 15,000 crore from Rs 12,000 crore for 2024-25 through various instruments.

The board has also fixed the borrowing limit at Rs 16,000 crore for 2025-26.

The Board of Directors of Power Grid, in their meeting held on 10th July 2024, have accorded the following approvals for borrowing funds of up to Rs 16,000 crore during the financial year (FY) 2025-26 through various sources, including domestic bonds (Secured/ unsecured, non-convertible, non-cumulative, redeemable, taxable/tax-free under private placement), a BSE filing said.

The board also enhanced the current borrowing limits from the existing Rs 12,000 crore to Rs 15,000 crore during the financial year 2024-25 through the issue of secured/unsecured, non-convertible, non-cumulative, redeemable, taxable/tax-free bonds under private placement from domestic/other sources.

The above approval of the agenda by the Board of Directors is subject to the approval of shareholders in the ensuing annual general meeting, it stated.

With PTI inputs