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

The stock gave is up by 90 per cent in 3 years and gave multibagger returns of over 250 per cent in 1 decade.

Power Grid Corporation of India Ltd informed that the company successfully commissioned a project under transmission system strengthening beyond Kolhapur for export of power from solar & wind energy zones in the southern region- RE- conductoring of Kolhapur (PG)- Kolhapur 400 kV D/C line has been commissioned

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 Tuesday, 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 market cap of Rs 1,75,000 crore and a robust order book worth Rs 48,700 crore as of June 30, 2023. The company has been maintaining a healthy dividend payout of 60.0 per cent and the stock is providing a good dividend yield of 4.39 per cent.

On Friday, shares of the company surged 3.07 per cent to Rs 252.10 per share from its previous closing of Rs 244.60. The stock traded at an intraday high of Rs 252.75 and an intraday low of Rs 245.30. The shares of the company saw a spurt in volume by more than 2.98 times on BSE.

The stock gave is up by 90 per cent in 3 years and gave multibagger returns of over 250 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.