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The latest update is out from Power Grid Corporation of India Limited ( (IN:POWERGRID) ).
The Cabinet Committee on Economic Affairs has approved an enhanced delegation of powers to Power Grid Corporation of India, raising its permissible equity investment limit in each subsidiary from Rs 5,000 crore to Rs 7,500 crore while retaining the cap at 15% of the company’s net worth. The move strengthens Power Grid’s ability to invest in capital-intensive transmission projects, particularly UHV AC and HVDC networks for renewable energy evacuation, and is expected to deepen competition in tariff-based competitive bidding, improve price discovery and support the availability of affordable, clean power for consumers.
By increasing its equity headroom per subsidiary, Power Grid can take on larger and more complex projects that are critical to integrating the targeted 500 GW of non-fossil-based capacity into India’s power system. This enhanced flexibility bolsters the company’s operational and strategic role in the power sector, reinforces its position in the transmission infrastructure market and has positive implications for stakeholders across the clean energy value chain.
More about Power Grid Corporation of India Limited
Power Grid Corporation of India Limited is India’s largest transmission service provider, operating as a Maharatna central public sector enterprise under the Ministry of Power. The company develops, owns and operates high-voltage transmission networks across the country, with a growing focus on integrating renewable energy into the national grid to support India’s clean energy transition.
Average Trading Volume: 596,581
Technical Sentiment Signal: Strong Buy
Current Market Cap: 2794.4B INR
Find detailed analytics on POWERGRID stock on TipRanks’ Stock Analysis page.