Hot Stock: This PSU power company receives investment approval for multiple projects worth Rs 388.94 crore!
The stock is up by 90 per cent in 3 years and over 200 per cent in 1 decade.
Power Grid Corporation Ltd inform that a meeting held on June 28, 2023 has accorded Investment approvals for the following:
1. Investment proposal for change in scope for establishment of dedicated Telecom network for NTAMC at an estimated cost of Rs 164.38 crore.
2. Investment approval of the Western Region expansion scheme at an estimated cost of Rs 115.09 crore is scheduled to be commissioned by August 15, 2024.
3. Investment approval for “ICT Augmentation at Navsari (New) associated with the integration of additional 7 GW RE power from Khavda RE park under Phase-III” at an estimated cost of Rs 109.47 crore scheduled to be commissioned in the matching time frame of ‘Transmission system for evacuation of additional 7 GW RE Power from Khavda RE Park under Phase-III Part-B’ which is presently anticipated by October 22, 2025.
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Power Grid Corporation of India Limited is a Maharatna CPSU and India’s largest electric power transmission company. The President of India (Government of India) holds a 51.34 per cent stake in the company as of December 2022. The stock has a PE multiple of 11.38 whereas the sectoral PE multiple is 36.80 with an ROE of 20 per cent.
On Wednesday, shares of Power Grid Corporation of India surged 0.25 per cent to Rs 250.15 per share from its previous closing of Rs 249.50 with an intraday high of Rs 252.45 and a low of Rs 246.50.
The stock is up by 90 per cent in 3 years and over 200 per cent in 1 decade. Investors should keep an eye on this multibagger PSU stock for upcoming trading sessions.