Power PSU stock gains after bagging transmission project in Gujarat - Check details

Power PSU Stock in focus today: Shares of Power Grid Corporation of India gained around 1 per cent in early trade as domestic equity indices Sensex and Nifty climbed tracking a rally in global markets after the US Federal Reserve cut its benchmark interest rate after more than four years.

The gain in the share price comes as the PUS on Thursday said it has been declared as the successful bidder for a transmission project in Gujarat.

Power PSU Stock in Focus Today: Power Grid Share Price

The counter opened at Rs 337.30 and gained further to touch the intra-day high of Rs 338.65 on the BSE. This is a gain of 1.11 per cent from the previous close of Rs 334.90.

Power Grid Share Price History

The counter has given a positive return of around 65 per cent in one year and has surged 42 per cent so far this year.

The company has emerged as the preferred bidder against a tariff-based competitive bidding, it said in an exchange filing.

It will set up an inter-state transmission system for the evacuation of power from potential renewable energy zone in Khavda area of 

Gujarat under Phase-IV (7GW) on build, own, operate and transfer (BOOT) basis.

Power Grid received the Letter of Intent (LoI) on September 19, 2024.

The project comprises the establishment of a new sub-station and associated bay extension works.