Power Grid Corporation of India (PGCIL) was one of the top Sensex gainers in trade on Monday, ending with gains of nearly 9 per cent. The stock has gained about 42 per cent year-to-date. For the March quarter, the company reported a revenue of Rs 12,000 crore, which was down 3 per cent year-on-year (Y-o-Y) but up 4 per cent quarter-on-quarter (Q-o-Q). The drop was on account of one-time arrears related to the Nagapattinam tariff bid competitive bidding (TBCB) project in Q4 FY23.
Power Grid Corporation of India's (PWGR's) Q3FY25 revenue declined 3 per cent year-on-year (Y-o-Y) to Rs 11,200 crore, with operating profit falling 7 per cent Y-o-Y to Rs 9,500 crore and margin contracting to 85 per cent from 91 per cent Y-o-Y. Other income surged 89 per cent Y-o-Y to Rs 500 crore, but regulatory income dropped 62 per cent Y-o-Y to Rs 42.5 crore.
In what could close the doors for import of Chinese equipment in power transmission, state-run Power Grid Corporation is making it mandatory for suppliers to have manufacturing facilities in India within three years. The company's board is likely to approve the proposal in its meeting on July 2.
Power supply will be restored by 7 pm in most of the major cities hit by grid failure, Power Grid Corp chief R N Nayak said on Tuesday.
Power Grid is supposed to set up two (2) high power transmission towers costing over Rs 16,500 crore (Rs 165 billion) for evacuating a bulk of the 16,000 Mws of electricity generated within the state by 2011-12 to western and northern India.
Reliance Energy Limited has outbid seven other companies, including Tata Power and GMR, to emerge as the top contender for building India's first fully independent private power transmission lines.
In talks with Nigeria, Kenya & Niger for development of transmission system.
Declining to be identified, sources said the company, which is the third largest transmission company in the country, did not find the expertise provided by IL&FS to the consultancy business up to the mark and accordingly, decided to end the JV.
"Despite a booming economy, India's growth potential is constrained by inadequate electricity services and limited power generation and supply infrastructure... The power sector has improved in recent years, albeit in an environment where demand for electricity continues to outstrip supply," the bank said. The Bank has made three direct loans to Power Grid since 1993.
Within minutes of listing, the scrip of the country's biggest transmission utility touched a high of Rs 100 and as many as 28.86 lakh shares changed hands at the BSE. At the National Stock Exchange, the scrip got listed at Rs 89.80, touched a high of Rs 99.90 and over 8.36 crore shares were traded.
Benchmark equity indices Sensex and Nifty rebounded on Thursday after three sessions of losses, tracking gains in global markets after US President Donald Trump struck a conciliatory tone on Greenland. In a volatile session, the 30-share BSE Sensex climbed 397.74 points, or 0.49 per cent, to close at 82,307.37.
PGCIL planned to take a loan of about $2 billion (Rs 8,350 crore) from World Bank and $1 billion (Rs 4,150 crore) from Asian Development Bank, Power Minister Sushilkumar Shinde told Rajya Sabha in a written reply.
The World Bank will give a loan of $1 billion (about Rs 5,000 crore) to power transmission company PGCIL this year for developing infrastructure in the sector.
The 12-month programme is expected to offer shorter internship duration in the third phase of the pilot in certain sectors such as services.
While 28,141 applicants accepted internship in round one, in the second phase this was down to 24,638.
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The Finance Ministry has filed the offer document with market regulator Securities and Exchange Board of India for the Central Public Sector Enterprises ETF, which could fetch the exchequer about Rs 3,000 crore (Rs 30 billion).
Power Grid Corp of India Ltd is set to form joint ventures with five more companies, including Oil and Natural Gas Corporation and Essar, for setting up transmission lines in the country entailing a total investment of Rs 5,000 crore (Rs 50 billion).
From the Sensex pack, Eternal, Maruti Suzuki India, Kotak Mahindra Bank, Mahindra & Mahindra, Tech Mahindra, Titan, HDFC Bank, PowerGrid, Bajaj Finserv, HCL Technologies, Bajaj Finance and Larsen & Toubro were among the gainers. On the other hand, Tata Motors Passenger Vehicles, Asian Paints, UltraTech Cement, Bharat Electronics Ltd, Tata Steel, Adani Ports, Hindustan Unilever, ITC, Tata Consultancy Services and Reliance Industries were the only laggards.
From the Sensex firms, Eternal, NTPC, Kotak Mahindra Bank, ICICI Bank, Bajaj Finserv, Power Grid, Trent and HDFC Bank were among the major laggards. However, Bharat Electronics, Larsen & Toubro, Tata Consultancy Services, ITC and State Bank of India were the gainers.
Stock markets will be mainly driven by quarterly earnings by corporates, foreign fund flows and global trends this week, analysts said.
Construction major L&T is gearing up to expand its footprint in the global nuclear supply chain, a senior company official has said, while calling for amendments to key legislations on the domestic front to pave the way for the entry of private players and foreign capital necessary for capacity enhancement.
Power distribution company officials said several areas, largely in central and east Delhi, were affected due to the failure. Some areas in north Delhi also faced outages.
Corporate India is embarking on an ambitious investment drive, with capital expenditure (capex) expected to double to $850 billion over the next five years, according to a report by S&P Global Ratings. Indian power & transmission, airlines, and green hydrogen sectors would spearhead the spending, the report said.
Southern states have been asked to reduce load for maintaining 'grid discipline' to avert power blackouts like the one caused by the collapse of three grids which has hit 22 states in north, east and north-east region.
'If you align your ambition with India's rise, the peak of your careers will unfold alongside the peak of India's power.'
Stock markets declined for the second day in a row on Friday, with the Sensex tumbling 721 points due to heavy selling in financial, IT and oil & gas shares amid persistent foreign fund outflows.
The Power Grid Corporation of India and the State Grid Corporation of China have signed a three-year memorandum of understanding to share experiences in transmission and telecommunications.
Mumbai was spared due to the immediate islanding by the Tata Power Company and was ensured power supply by TPC and Reliance's BSES.
The import of power is expected to start by late 2012. The state-run Bangladesh Power Development Board on Monday signed the deal with Power Grid Corporation of India Ltd at a ceremony in Dhaka.
Power Grid Corporation of India (PGCIL), India's largest electricity transmission company, has found the installation of power transmission lines between India and Sri Lanka to be feasible, paving the way for eventual trading of electricity between countries.
Power utilities may report moderate growth in earnings for Q3FY25. Generation is up 3 per cent year-on-year (Y-o-Y) in Q3 on lower cooling demand and high base, to 429 billion units (BU). Peak demand was steady at 224 Gw in Q3FY25, a 10 per cent decline from the record highs of 250 Gw in May 2024.
Deposit of pollution particles on transmission lines was attributed as the reason for tripping, which officials described as a common phenomenon during winter -- which has been unusually long this year. Delhi, Uttar Pradesh and Haryana were the most hit due to the failure in the lines.
Have you heard of an electronic exchange to trade electricity? Soon, online power exchanges will be a reality in India.
With disinvestment on hold, the power ministry now seeks approval for initial public offers of power companies.
'We feel that till the time statehood is not restored power sector should not be touched in J-K.'
The government's initiative to have trading of electricity with Sri Lanka is likely to bear fruit by mid-2014, with the commissioning of a high capacity power transmission link between the two countries. The two countries are likely to sign an MoU for a Rs 2,500-crore (Rs 25 billion) project.
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