Shares of Power Grid Corp. hit an all-time high on Wednesday after it received a letter of intent to establish an interstate transmission system project in Gujarat.
The project comprises setting up an inter-state transmission project for evacuation of an additional 7 gigawatts of power from Khavda renewable energy park under Phase III Part B on a build, own, operate and transfer basis, according to an exchange filing on Tuesday.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The project also includes establishment of a new switching station in Ahmedabad, three transmission lines and extension work at Navsari and Halvad substations, it said.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Powergrid's stock rose as much as 1.69% during the day to Rs 226.05 apiece on the NSE. It pared gains to trade 0.31% higher at Rs 223 apiece compared to a 0.36% advance in the benchmark NSE Nifty 50 as of 11:16 a.m.
It has risen 38.98% on a year-to-date basis. The total traded volume so far in the day stood at 2.7 times its 30-day average. The relative strength index was at 76, indicating that the stock may be overbought.
Twelve out of the 19 analysts tracking Powergrid have a 'buy' rating on the stock, four recommend 'hold', and three suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 41.8%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
