Power Grid Corporation of India, a leading power transmission company in India, announced that POWERGRID has been declared as the successful bidder under Tariff based competitive bidding to establish '765kV Strengthening in Eastern Region (ERSS-XVIII)’ on build, own operate and maintain (BOOM) basis. The Letter of Intent (Lol) has been received on February 21, 2017.

Earlier the company has disclosed a good increase in standalone net profit for the quarter ended December 2016.  During the quarter, the profit of the company rose 20.16% to Rs 19,300.20 million from Rs 16,062.50 million  in the same quarter previous year. Revenues for the quarter  rose 23.47% to Rs 66,297.60 million, compared with Rs 53,695 million for the prior year period.

Total volume of shares traded on the bourses today was lower by 22.69% to 4,271,627 compared with 22-day average volume of 5,525,339.

Shares of the company declined Rs 0.6, or 0.29%, to settle at Rs 205.80. The total volume of shares traded was 92,906 at the BSE (Tuesday).