Rs 4,781 crore orders: This Maharatna PSU company to implement advanced metering infrastructure projects and set up pilot data centre!
The stock is up by 98 per cent in 3 years and over 200 per cent in 1 decade.
Power Grid Corporation Ltd inform that a meeting held on July 14, 2023 has approved the following proposals:
1. Investment Approval for “implementation of advanced metering infrastructure projects” at an estimated cost of Rs 4067.27 crore.
2. Transfer of telecommunications business undertaking of POWERGRID (the Holding Company) to POWERGRID Teleservices Limited (PowerTel), a wholly owned subsidiary of Power Grid Corporation Ltd.
3. Revised investment proposal for the establishment of a pilot data centre at POWERGRID Manesar Substation at an estimated cost of Rs 713.83 crore (including GST) through its wholly owned Subsidiary named ‘POWERGRID Teleservices Limited’.
Power Grid Corporation of India Limited is a Maharatna PSU 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 shares of the company have a PE multiple of 10.90 whereas the sectoral PE multiple is 28.50 with an ROE of 20 per cent.
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The stock offers a healthy dividend yield of 4.15 per cent and the company has been consistently paying out 60 per cent of its earnings to shareholders in the form of dividends.
On Monday, shares of Power Grid Corporation of India surged 0.37 per cent to Rs 241 per share from its previous closing of Rs 240.10 with an intraday high of Rs 244.85 and a low of Rs 239.25.
The stock is up by 98 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.