Power Grid Corporation of India Ltd to set up subsidiary

Power Grid Corporation of India Ltd (POWERGRID) has received a letter dated 17.06.2020 from Ministry of Power advising to set up a 100% Subsidiary with separate accounting and Board structure, which would be responsible for carrying out statutory functions, as identified for Central Transmission Utility (CTU) under the Electricity Act, 2003, and also other functions assigned to CTU by CERC. The aforementioned 100% subsidiary company (CTU) would be separated as a wholly owned Government of India company within 6 months or till the completion of formalities for creation of the aforementioned company.

Shares of POWER GRID CORPORATION OF INDIA LTD. was last trading in BSE at Rs.159.5 as compared to the previous close of Rs. 162.45. The total number of shares traded during the day was 298793 in over 4779 trades.

The stock hit an intraday high of Rs. 161.5 and intraday low of 158.5. The net turnover during the day was Rs. 47713826.

Source : Equity Bulls

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