120% return in 3 years: Largecap PSU stock gains as company announces acquisition - Do you own?

Largecap PSU stock, Power Grid Share Price: The surge in the share price comes a day after the PSU informed exchanges that it has acquired the Khavda V A Power Transmission project through the tariff-based competitive bidding route.

Largecap PSU stock, Power Grid Share Price: The project, with an estimated cost of Rs 24,819 crore as per NCT (the National Committee for Transmission), is part of the scheme designed for evacuating 8 GW of renewable energy under Phase V: Part A from the Khavda Renewable Energy Zone in Gujarat.

Largecap PSU stock, Power Grid Share Price: The stock has given a multibagger return of around 120 per cent in 3 years and 93 per cent in two years. On a YTD basis, the counter has surged 33.92 per cent.

Largecap PSU stock, Power Grid Share Price: The 52-week high of the stock is Rs 366.20 and the 52-week low is Rs 207.95. The market cap of the company is Rs 2,96,363 crore. 

Largecap PSU stock, Power Grid Share Price: State-owned Power Grid Corporation of India (PGCIL) on Wednesday reported an almost flat consolidated net profit at Rs 3,793.02 crore for the September 2024 quarter.

Largecap PSU stock, Power Grid Share Price: The board also approved the payment of the first interim dividend of Rs 4.50 per equity share of Rs 10 each for 2024-25.

Largecap PSU stock, Power Grid Share Price: Earlier, brokerage firm Motilal Oswal gave a buy call on the stock with a target price of Rs 425. 

Largecap PSU stock, Power Grid Share Price: The above article is meant just for information and does not recommend any investment. Consult your financial advisors before making any money-related decisions.