Power Grid Corporation of India has received approval from the board to invest in transmission systems for Solar Energy Zones in Rajasthan.
Shares of the company are trading up by 2% in opening trade.
The company in its filing yesterday said, “…it is informed that the POWERGRID Board of Directors in their meeting held on 27.08.2019 have accorded Investment Approval for "Transmission System for Solar Energy Zones in Rajasthan", at an estimated cost of~Rs2,578.47cr with commissioning schedule as December, 2020.”
PGCIL, a Navratna company, is engaged in the transmission of power in India. It owns 85% of Inter State Transmission System (ISTS) network in the country.
Power Grid Corporation of India Ltd ended at Rs207.05 up by Rs0.5 or 0.24% from its previous closing of Rs206.55 on the BSE.
The scrip opened at Rs207.05 and touched a high and low of Rs207.05 and Rs207.05 respectively.
A total of 10,163 (NSE+BSE) shares were traded on the counter.
The current market cap of the company is Rs1,08,058.49cr.
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