Shares of Power Grid Corporation of India Ltd rose 1.65% to Rs 295.15 in early trade on Monday after the company announced board approval for a major capital expenditure project. The company’s board has cleared an investment proposal of Rs 673.08 crore for the procurement of six 397 MVA converter transformers for the Talcher-Kolar High Voltage Direct Current (HVDC) link. This investment will be made under the Additional Capital Expenditure block for the 2024-29 tariff period, with commissioning targeted by September 2027.
The move underscores Power Grid’s continued focus on strengthening and modernizing India’s power transmission infrastructure. The Talcher-Kolar HVDC link plays a critical role in ensuring stable power transfer across long distances and is one of the key projects in the national grid.
The stock opened higher at Rs 287 and touched an intraday high of Rs 296.95. At the last traded price of Rs 295.15, the company’s market capitalization stood at Rs 2.74 lakh crore. The stock has a P/E ratio of 17.65 and a dividend yield of 3.56%.
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