Power Grid shares: Why Maharatna stock may face selling pressure on Monday? EXPLAINED | Stock Market News
Power Grid shares: Here are the key reasons why Maharatna stock may face selling pressure on Monday?
Power Grid Corporation of India Ltd has come in news as Uday Kumar, the general manager of Power Grid Corporation of India, was detained by the CBI for accepting a bribe of ₹2.5 lakh. The incident can mpact the investor sentiments on Power Grid stock on Monday.
As per the press release by the Central Bureau of Investigation (CBI), a Power Grid Corporation of India Senior General Manager Uday Kumar took the bribe from an executive of Mumbai-based company to extend favours to the company. The executive and Sr General Manager were arrested from Sikar in Rajasthan.
Power Grid other developments
However there have been some positive developments too recently that may support the Power Grid share price.
Power Grid on Friday 21 March 2025 post the market hours had intimated exchanges about Acquisition of Fatehgarh II and Barmer I PS Transmission Limited by POWERGRID under TBCB route.
Project Win in Rajasthan As per the press release by Power Grid, Power Grid Corporation of India Ltd, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has on 21.03.2025 acquired Fatehgarh II and Barmer I PS Transmission Limited, the Project SPV to establish “Augmentation at Fatehgarh-II PS, Fatehgarh-IV PS (Sec-II) and Barmer-I PS.
The project won by Power Grid is on build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator – PFC Consulting Limited (PFCCL).
The project comprises ICT augmentation works at existing and under construction sub-stations in the State of Rajasthan.
Project Win in Karnataka Power Grid also announced on the exchanges regarding the Acquisition of Chitradurga Bellary REZ Transmission Limited by POWERGRID under TBCB route
Power Grid Corporation of India Limited, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has on 21.03.2025 acquired Chitradurga Bellary REZ Transmission Limited.
This Project SPV is to establish “Transmission Scheme for integration of Davanagere / Chitradurga REZ and Bellary REZ in Karnataka”, on build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator – PFC Consulting Limited (PFCCL).
The project comprises establishment of new 765 / 400 / 220kV Pooling SubStation near Davangere / Chitradurga and a new 400 /220kV Pooling SubStation near Bellary along with 765kV & 400kV D/C Transmission Lines and upgradation works for existing sub-station and transmission line. The entire scope of works are situated in the state of Karnataka.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
