Rs 50,500 crore order book and DIIs increase stake: This multibagger power stock commissions 8.1 GW solar power project and bags 7 GW renewable energy project in Gujarat!
Shares of the company gained more than 110 per cent in the last three years.
Power Grid Corporation of India (PGCIL) informed that its subsidiary Powergrid Ramgarh Transmission Limited has successfully completed a key project that will boost India's clean energy ambitions. The Transmission system strengthening scheme in Rajasthan, commissioned on December 20th, 2023, will now facilitate the seamless evacuation of 8.1 GW of solar power generated in the region. This crucial infrastructure upgrade will enhance grid stability and pave the way for further solar energy development in Rajasthan, contributing to India's renewable energy goals.
Recently, the company secured a major project to build a transmission system for the Khavda RE Park in Gujarat, enabling the evacuation of 7 GW of renewable energy. Additionally, PGCIL has won two inter-state transmission projects under the BOOT model, further expanding its green energy footprint. Shares of the company delivered multibagger returns of more than 110 per cent in the last three years.
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As India's leading power transmission company, PGCIL boasts a vast network spanning over 1,74,113 km of lines and 272 substations with a combined capacity of 4,99,360 MVA. This extensive infrastructure forms the backbone of India's power transmission system, ensuring the reliable and efficient delivery of electricity across the country. The company also has Rs 50,500 crore work in hand with Rs 8,800 crore capex plan. DIIs have increased their stake in the company to 13.21 per cent in September 2023 respectively.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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