PSU NEWS

Maharatna stock PGCIL jumps by 0.87% with order receipt of transmission projects in TN & Karnataka

  • by Psu Connect
  • Date: 13-12-24

Power Grid Corporation of India Limited plans to invest a total of Rs. 9,16,142 crore over the next ten years.

Maharatna stock PGCIL jumps by 0.87% with order receipt of transmission projects in TN & Karnataka
Maharatna stock PGCIL jumps by 0.87 with order receipt of transmission projects in TN & Karnataka

Maharatna PSU, Power Grid Corporation of India Limited (POWERGRID) has been declared the successful bidder under tariff-based competitive bidding for two major projects. The project includes a 400kV transmission line between Kudankulam Units 3 & 4 and the Tuticorin-II substation in Tamil Nadu, along with the installation of terminal equipment at Tuticorin-II for power evacuation. 

Additionally, the company also secured a project for a 400kV transmission line between Koppal-II and Gadag-II in Karnataka, along with the augmentation of transformation capacity at the under-construction POWERGRID substations at both locations for integrating renewable energy generation projects. 

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Power Grid Corporation of India Limited plans to invest a total of Rs. 9,16,142 crore over the next ten years. This includes Rs. 6,60,774 crore for the interstate transmission system and Rs. 2,55,368 crore for the intrastate transmission system across the 2022–27 and 2027–32 periods. 

Currently, the company has projects in progress worth Rs. 8,896 crore under the RTM (Regulated Tariff Mechanism), Rs. 93,072 crore for TBCB (Tariff-Based Competitive Bidding) projects, and Rs. 3,319 crore for other projects, making the total value of ongoing work about Rs. 1,43,295 crore. For FY25, Power Grid has allocated Rs. 18,000 crore for its capital expenditure, focusing mainly on RTM and TBCB projects. 

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In Friday’s trading session, Power Grid Corporation of India Limited’s share jumped by 0.87 percent from the previous close of Rs. 329. The stock opened at Rs. 331.75 and is currently trading at Rs. 331.85, with a high of Rs. 332.90 and a low of Rs. 325.10. 

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