Stock Market: 89% Drop in 3 Years, Coupled with Over 200% Multibagger Returns in 10 Years
The power grid cooperation of Inida Ltd. informed the board of directors of the company that it has recommended the issue of bonus shares in the ratio of 1.3. A new equity share of Rs 10 for every three existing equity shares of Rs 10 each is fully paid.
The company’s shareholders are invited to the Annual General Meeting (AGM). The estimated date on which the bonus shares will be credited is September 25, 2023.
The company approved raising funds up to Rs 12,000 crore from the domestic market.
The company approved the funds from the domestic market through non-convertible,non-cumulative, and cumulative secured/unsecured, redeemable, taxable, and tax-free debentures and bonds under private placement during the financial year 2024-2025 in one or more tranches. offer subject to approval by the company shareholders
The company’s capex plan and its spending
The company announced a capex plan of Rs 8,800 crore for FY23
Rs 5,000 crore will be spent on Regulated Tariff Mechanism (RTM) projects.
Rs 3,800 crore will be spent on Tarrif-based Competitive Building (TBCB) projects.
India’s largest electric power transmission company
India’s largest electric power transmission company is Power Grid Corporation of India Ltd., a Maharatna CPSU. The company has a strong order book worth Rs 48,700 crore as of June 30, 2023.
The CPSU company shares plunged by 5.36 percent on Tuesday to Rs 251.75 per share from their previous closing of Rs 266.
The stock traded at an intraday high of Rs 262.45 and an intraday low of Rs 250.50, with the spurt vol more than 2.80 times on BSE.
Market Whirlwind: From 89% Loss in 3 Years to Spectacular 200%+ Multibagger Returns in 10 Years
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