Power Grid Board Nods To Investments Of Rs 1,184.45 Cr

Power Grid Corp announced that its board has given the approval o to invest Rs 1,184.45 crore in power transmission projects across the country. Its BSE filling read that the company's Board of Directors, in their meeting held on October 22, 2016, have approved to three investment proposals, Power Grid Corp said in a BSE filing.

According to the statement, the Board has approved the proposal 'Augmentation of Transformation Capacity in Southern Region' at an approximate cost of Rs 167.75 crore, with authorizing schedule of 30 months from the date of approval.

It also approved investment for 'Sub-station works related with boosting of transmission system beyond Vemagiri' at an e cost of Rs 608.24 crore, with commissioning schedule of 30 months from the date of approval.

The board also gave a nod to invest in 'Transmission System for Ultra Mega Solar Park at Tumkur (Pavagada), Karnataka - Phase-II (Part A)' at a predicted cost of Rs 408.46 crore, with commissioning schedule of 27 months from the date of approval.

As seen on 24^th Oct, Power Grid share price is trading at Rs. 175.45, down by 0.85 per cent. The stock opened at Rs. 176.60 and touched the day’s high and low at Rs. 178.35 and Rs. 175.15 respectively. Till now, around 6,55,875 shares were traded in the counter with a traded value of Rs. 1,157.82 lacs, as per NSE.

Power Grid share price touched its 52 week high value at Rs. 187.70 on 6^th Sept ’16 whereas the 52 week low value is seen at Rs. 126.20 on 29^th Oct ’15.

Power Grid is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE.  Power Grid is fundamentally strong and is safe for investment, as per Dynamic analysts.

In order to know about its fundamentals and financials, please a pay a visit to Power Grid share price history.