The utility will invest Rs 288.49 crore for 'System Strengthening - XX in Southern Regional Grid'. Another Rs 188.75 crore would be put in for 'Transmission System for Connectivity for NCC Power Projects Ltd (1,320 MW)'.
State-owned Power Grid Corporation has received approval of its board for investing Rs 477.24 crore in two transmission projects.
The approval was given by the company's board of directors during the meeting held on August 4, it said in a regulatory filing.
The utility will invest Rs 288.49 crore for 'System Strengthening - XX in Southern Regional Grid'. Another Rs 188.75 crore would be put in for 'Transmission System for Connectivity for NCC Power Projects Ltd (1,320 MW)'.
Both projects are expected to be commissioned in 30 months from the date of investment approval.
The company posted a rise in net profit at Rs 1,136.51 crore in three months ended June.
The Power Grid scrip fell nearly 2 percent to close at Rs 132.05 on the BSE.
Power Grid Corp stock price
On August 08, 2014, Power Grid Corporation of India closed at Rs 132.05, down Rs 2.4, or 1.79 percent. The 52-week high of the share was Rs 146.50 and the 52-week low was Rs 91.70.
The company's trailing 12-month (TTM) EPS was at Rs 8.78 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 15.04. The latest book value of the company is Rs 59.90 per share. At current value, the price-to-book value of the company is 2.20.
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