India's Power Grid gains on contract wins

Power Grid of India

05/03/2025 05:12

** Shares of Power Grid Corporation of India PGRD.NS rise 2.2% to 259.5 rupees, set for their third straight day of gains

** Stock among top pct gainers in the benchmark Nifty 50 index .NSEI, which is up 0.76%

** State-run energy transmission firm wins contracts for three projects to build transmission systems in states including Rajasthan, Gujarat, Andhra Pradesh

** Co did not disclose financial details of the contracts

** Analysts' avg rating on stock is "buy," same as that on peer NTPC NTPC.NS; their median PT on PGRD is 342 rupees - data compiled by LSEG

** Stock down 15.9% so far this year vs a 6% decline in Nifty 50 index

 (Reporting by Aleef Jahan in Bengaluru)

 ((aleefjahan.cs@thomsonreuters.com))