Power Grid Share opened at 210.05 on Friday. The stocks fell by 2.40 percent ahead of union budget. The stock closed at 205.15.
Power Grid earlier said it was planning to raise funds up to Rs 10,000 crore from domestic market through issue of secured/unsecured, non-convertible, non-cumulative/cumulative, redeemable, taxable/tax-free debentures/bonds under private placement during 2020-21 in up to 20 tranches/offers. A meeting of the board of directors of the company was held on 3 July 2019 to consider and approve the same.
Power Grid is an Indian state-owned electric utilities company headquartered in Gurgaon. Power Grid transmits about 50% of the total power generated in India on its transmission network.
The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high of Rs 211 on 26 June 2019 and a 52-week low of Rs 173.05 on 14 February 2019.
Power Grid shares have gained nearly 13% in the last one year compared with a 12% rise in the benchmark Nifty 50 index.
The promoter holding in the company stood at 55.37%, while Institutions and Non-Institutions held 40.09% and 4.55%, respectively.
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