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Power Grid Corporation of India Limited ( (IN:POWERGRID) ) has shared an announcement.
Power Grid Corporation of India Limited’s board has approved the withdrawal of its nominee director from the board of PTC India Limited and the relinquishment of all promoter rights in PTC as defined in that company’s Articles of Association. The move, undertaken in line with a directive from India’s Ministry of Power, marks a formal step back from Power Grid’s promoter role in PTC India, potentially reshaping its exposure and strategic involvement in the power trading segment while aligning its governance structure more closely with current government policy.
More about Power Grid Corporation of India Limited
Power Grid Corporation of India Limited is a state-owned electric power transmission utility, responsible for operating and maintaining the bulk of India’s interstate and inter-regional power transmission network. As a central infrastructure player in the power sector, its core activities include planning, implementing and managing high-voltage transmission lines and substations that facilitate reliable power flow across the country.
Average Trading Volume: 544,621
Technical Sentiment Signal: Buy
Current Market Cap: 2415.8B INR
For detailed information about POWERGRID stock, go to TipRanks’ Stock Analysis page.