Power Grid Corp, NTPC gain 3% each to hit their respective 3-month highs

Shares of state-owned power transmission company Power Grid Corp and power generation company NTPC hit their respective over three-month highs on gaining 3 per cent each on the BSE in Monday’s intra-day trade.

At 12:25 pm; Power Grid Corporation was up 3 per cent to Rs 228.70 as the company was declared 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 the two projects on March 2.

The first project comprises of establishment of 400kV D/C transmission line passing through the state of Chhattisgarh and bays extension works at 2 existing sub-stations.