Shares of Power Grid Corporation of India rallied 5 per cent to Rs 289.10 on the BSE in Thursday’s intra-day trade after the company said it has been declared as the successful bidder under tariff based competitive bidding (TBCB) to establish inter-state transmission system on build, own operate and transfer (BOOT) basis. Power Grid stock had hit a 52-week high of Rs 298.95 on March 7, 2024.
Meanwhile, Power Grid, the state-owned power transmission company on Wednesday, approved a proposal to raise up to Rs 12,000 through the issuance of bonds in one or more tranches in 2024-25.
