Rs 48,700 crore order book: This power transmission company has successfully commissioned the project and announces bonus shares!

The shares of the company saw a spurt in volume by more than 2 times on BSE.  

Power Grid Corporation of India Ltd informed that assets under ‘North Eastern Region Strengthening Scheme-VI’ have been commissioned with effect from May 23, 2021, vide CERC order dated June 28, 2023, for which notification for commercial operation (DOCO) has been received on August 16, 2023.

Additionally, the Board of Directors of the company has recommended the issue of bonus shares in the ratio of 1:3 i.e., 1 (one) new equity bonus share of Rs 10 each for every 3 (three) existing equity shares of Rs 10 each fully paid up. The company fixed the record date for the bonus issue of shares as September 12, 2023.

Furthermore, the company approved raising funds up to Rs 12,000 crore from the domestic market under private placement during the financial year 2024-2025 in one or more tranches/offers subject to the approval of shareholders of the company and announced a capex plan of Rs 8,800 crore for FY24.

Power Grid Corporation of India Ltd is a Maharatna CPSU and India’s largest electric power transmission company. The company has a robust order book worth Rs 48,700 crore as of June 30, 2023.

On Friday, shares of the company plunged 1.23 per cent to Rs 240.65 per share from its previous closing of Rs 243.65. The stock traded at an intraday high of Rs 243.40 and an intraday low of Rs 240. The shares of the company saw a spurt in volume by more than 2 times on BSE.  

The stock gave is up by 85 per cent in 3 years and gave multibagger returns of over 230 per cent in 1 decade. Investors should keep an eye on this power transmission company’s stock.

Disclaimer: The article is for informational purposes only and not investment advice.