Latest news with #PowerGridCorporation
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Business Standard
a day ago
- Business
- Business Standard
PowerGrid Q1FY26 results: Profit slips 2.5% to ₹3,630 cr on higher expenses
State-run Power Grid Corporation reported a marginal decline in consolidated net profit for the first quarter of FY26, primarily due to an increase in total expenses. The company posted a net profit of ₹3,630.58 crore for the quarter ended June 30, 2025, a 2.5 per cent drop from ₹3,723.92 crore in the same quarter last year, according to a filing with the Bombay Stock Exchange (BSE). Despite the dip in profit, total income rose to ₹11,444.42 crore, compared to ₹11,279.59 crore a year earlier. Total expenses climbed to ₹7,114.23 crore from ₹6,643.07 crore in the year-ago quarter. Board approves higher borrowing PowerGrid's Board has approved raising its borrowing limit for FY26 from ₹16,000 crore to ₹25,000 crore. The funds will be sourced from various channels, including private placement of non-convertible debentures, according to a Press Trust of India report. For FY27, the Board also cleared a fundraising plan of up to ₹30,000 crore through domestic bonds or other routes, in one or more tranches. Green light for project participation The Board gave in-principle approval for PowerGrid to participate in up to two tariff-based competitive bidding (TBCB) projects along with POWERGRID Infrastructure Investment Trust (PGInvIT), at a combined estimated cost of ₹500 crore. It also approved the sale of PowerGrid's entire equity in Parbati Koldam Transmission Company Ltd, a joint venture with India Grid Trust. The company received approval to form new joint ventures with the Nepal Electricity Authority (NEA) to develop cross-border transmission infrastructure between India and Nepal. Additionally, the Board granted in-principle approval to wind up RINL POWERGRID TLT Pvt Ltd, a joint venture with Rashtriya Ispat Nigam Ltd. The winding-up will follow regulatory clearance and removal from the Registrar of Companies' records. Capital expenditure and asset base PowerGrid reported capital expenditure of ₹6,981 crore on a consolidated basis for Q1FY26. As of June 30, 2025, the company's gross fixed assets, including lease receivables, stood at ₹2,92,446 crore. Its network comprised 1,80,533 circuit kilometres of transmission lines, 284 substations, and a transformation capacity of 5,66,831 MVA across India. The company maintained a high average transmission system availability of 99.84 per cent during the quarter.
Time of India
23-07-2025
- Business
- Time of India
CM approves revised policy for land compensation to farmers
1 2 Jaipur: Chief minister Bhajan Lal Sharma Wednesday approved the revised policy for compensating farmers for land affected by the Right of Way (ROW) in the construction of new transmission lines of 400 kV or more capacity in Rajasthan. With the CM's decision towards farmers, additional compensation will now be provided for the construction of transmission lines of 400kV and above. He accepted the long-standing demand of farmers, ensuring that in the future, farmers will receive appropriate compensation for land used in the Right of Way and tower areas of transmission lines. A partial amendment was made to the compensation policy for land affected by the ROW for the construction of new transmission lines of 132kV or more capacity, effective from Nov 8, 2024, in Rajasthan, specifically for transmission lines of 400kV and above. Energy minister Heeralal Nagar said that the revised policy will greatly benefit farmers, allowing for proper compensation for losses incurred during the construction of transmission lines of 400kV and above on their fields. This will expedite the construction of high-capacity transmission lines in the state, benefiting common consumers with high-quality electricity. ROW is a strip of land where the construction, installation, operation, and maintenance of transmission lines take place. ROW is the centre of the transmission line. It removes all trees, structures, and constructions that obstruct power lines. According to this revised policy, an additional 200% compensation will now be provided on top of the previously payable 200% of the land value according to DLC rates for the tower base area of these lines. The tower base area will be the area enclosed by the four legs of the tower at ground level, with an additional one-metre extension on each side. Additionally, for ROW corridor, 30% of the land value will be payable in rural areas, 45% in municipal and other urban planning areas, and 60% in municipal corporations and metropolitan areas. This revised ROW compensation policy will apply to all implementing agencies (transmission licensees), Power Grid Corporation, and all private companies involved in the construction of transmission lines of 400 kV and above capacity.
India Today
18-07-2025
- Business
- India Today
Sensex opens 100 points lower, Nifty below 25,100; Wipro jumps 3%
Benchmark stock market indices opened lower on Friday as stocks from private bank and heavyweight financials sectors dragged the market S&P BSE Sensex lost 199 points to 82,060.24, while the NSE Nifty50 was down by 40.50 points to 25,070.95, as of 9:28 VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that in July, so far, India has been underperforming most markets, with a dip of 1.6% in Nifty."A significant contributor to the decline is the selling by FIIs. There is a clear pattern in FII activity this year so far. They were sellers in the first three months. For the next three months they turned buyers. And in the seventh month the trends so far indicate further selling unless some positive news reverse the downtrend in the market," he the top gainers in early trade were Power Grid Corporation, which rose by 1.47%, followed by Tata Steel gaining 1.22%. Mahindra & Mahindra was also up by 1.17%, while Tata Consultancy Services added 0.48% and Larsen & Toubro gained 0.43%.However, on the losing side, Axis Bank saw the biggest drop, falling by 4.54%. Bharti Airtel was down 1.28%, Kotak Mahindra Bank slipped by 0.87%, Eternal saw a cut of 0.67%, and Tech Mahindra dropped 0.53%.advertisementThe Nifty Midcap100 gained 0.10% while Nifty Smallcap100 rose 0.05%, but India VIX fell 0.06%.Among the sectoral indices, several showed positive momentum with Nifty Metal leading at 0.71%, followed by Nifty Auto at 0.55%, Nifty Financial Services at 0.45%, Nifty Realty at 0.44%, Nifty Media at 0.38%, Nifty Oil & Gas at 0.26%, Nifty IT at 0.22%, and Nifty PSU Bank at 0.13%. Nifty Private Bank faced the biggest decline at 1.15%, followed by Nifty Healthcare which dropped 0.31%. Nifty FMCG fell 0.22%, Nifty Pharma declined 0.08%, and Nifty Consumer Durables slipped 0.01%."Along with selling in the cash market FIIs have been increasing short positions in the derivatives market too, which reflect a bearish outlook," said Vijayakumar. "Elevated valuations in India and cheaper valuations in other markets will continue to influence FII activity," he added. (Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends
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Business Standard
03-07-2025
- Business
- Business Standard
Bajel Projects shares rise 5% on 'mega' order from Power Grid Corp
Shares of Bajel Projects rose 5 per cent on Thursday after it secured an order from Power Grid Corporation worth ₹300 crore to ₹400 crore for a 400kV transmission line. The heavy electrical equipment maker's stock rose as much as 5 per cent to hit an upper circuit of ₹242.7 per share, the highest level since January 1 this year. This compares to a 0.35 per cent advance in Nifty 50 as of 12:55 PM. Shares of the company snapped a three-day losing streak on Thursday, and the stock currently trades 0.6 times the 30-day average trading volume, according to Bloomberg data. The counter has fallen 11 per cent this year, compared to a 7.6 per cent advance in the benchmark Nifty 50. Bajel Projects has a total market capitalisation of ₹2,838.62 crore, according to BSE data. Track LIVE Stock Market Updates Here Bajel Projects bags order from Power Grid The company secured a 'mega' order from PowerGrid Corp, valued between ₹300-₹400 crore, according to an exchange filing on Thursday. The order falls under the Transmission Line Package TL04 for the Siwani–Jind (PG) 400kV double circuit (quad) transmission line, part of the REZ Phase IV (6GW) Bikaner Complex. The contract involves the construction of a 99-kilometre transmission line and was awarded through the tariff-based competitive bidding route. The project is expected to be completed within 18 months and is placed by PGCIL on behalf of its special purpose vehicle, Power Grid Siwani Transmission Ltd. 'We are proud to contribute to the nation's green energy initiatives by strengthening the transmission system for the REZ Ph-IV, Bikaner complex," said Rajesh Ganesh, managing director and chief executive officer, Bajel Projects. "This project reflects our commitment to delivering high-quality, timely, and efficient solutions that power India's growth." Last week, the company said it had secured a 'Large' order for a substation project in India. The project involves the development of a 400kV GIS and a 765kV AIS extension substation. About Bajel Projects Bajel Projects (Bajel) is among the prominent players in the power infrastructure space, with a strong foothold in both the Power Transmission and Power Distribution sectors. Formerly operating as part of Bajaj Electricals Limited under its EPC division, the company is widely recognised for its robust project management capabilities and operational excellence, earning it the trust of numerous state and national utilities, international clients, and private infrastructure developers.
Time of India
26-05-2025
- Health
- Time of India
Vizianagaram attracts Rs 20 crore in CSR funding for various works
Visakhapatnam: Vizianagaram district administration has attracted about Rs 20 crore in CSR (corporate social responsibility) funding from various private and govt organisations in the past few days due to its proactive measures. Tired of too many ads? go ad free now Collector Dr BR Ambedkar said that the Axis Bank will provide Rs 15 crore for the development of 40 water tanks in the district. The selected 40 tanks in the Nellimarla, Garividi, Gurla, and Merakamudidam mandals within the Champavathi river basin will be dredged, their embankments strengthened, plantations carried out, and check dams constructed. Similarly, the nuclear power corporation of India has sanctioned Rs 1 crore for medical equipment at the medical college. The company has also approved Rs 54.5 lakh for additional classrooms in govt schools in Nadipalli and Chintapalli villages of Pusapatirega mandal. Bharat Dynamics Limited has sanctioned Rs 1 crore for classroom projects in 37 govt schools, Rs 14.5 lakh for basic amenities in social welfare hostels, and Rs 7.16 lakh for medical equipment at Gajapathinagaram area hospital. Power Grid Corporation has donated a generator to the blood bank run by the Indian Red Cross Society. The district collector stated that these funds will contribute significantly to the development of education, healthcare, and social welfare sectors in the district.
