Power Grid powers up

Power Grid Corporation rose 2.3% today to Rs.227.15 while its 52-week high is at Rs.248.25. Its 10% UC for the day stands at Rs.244.25.

Th stock price rose after the company said that it has been declared as a successful bidder to establish inter-state transmission system for two projects on build, own operate and transfer (BOOT) basis, in Chhattisgarh.

The company has received letters of intent for two projects on March 2.

Two days ago, the company bagged two projects – first was for establishment of a 400-kV D/C transmission line passing through Chhattisgarh and bays extension works at two existing sub-stations. And the second was bays extension works, including creation of 220kV voltage at two existing sub-stations in Chhattisgarh.

The company has been on a roll since the last couple of days.