Power Grid Corp shares trade lower despite securing transmission projects in Jharkhand and Chhattisgarh

Power Grid Corporation shares were trading lower during the early market hours on Wednesday, June 17, despite the PSU firm emerging as the successful bidder for transmission projects in Jharkhand and Chhattisgarh, according to an exchange filing.

At 9:27 am, shares of Power Grid Corp. were down 0.14% at ₹284.85 during the trading session on Wednesday, compared to ₹285.15 at the previous market close, as per NSE data.

The shares were trading lower as the overall markets remained flat amid profit booking cues post a two-day rally on the backdrop of the US-Iran peace deal optimism.

The NSE filing also showed that Power Grid Corp. received the letter of intent from the authorities on Tuesday, June 16, 2026.

“This is to inform that Power Grid Corporation of India Limited has been declared as successful bidder under Tariff-Based Competitive Bidding to establish Inter-State Transmission System for the project namely ‘WR-ER Inter-Regional Network Expansion Scheme Part-A’ on Build, Own, Operate and Transfer (BOOT) basis,” the company informed the stock exchanges.

Transmission projects details

Power Grid Corp is set to set up two 765kV and 400kV (kilovolts) sub-stations in the states of Jharkhand and Chhattisgarh, respectively, as part of the transmission project deal, according to the exchange filing.

The company also disclosed that the project involves the extension of existing sub-stations in Chhattisgarh and West Bengal, along with the construction of 765kV and 400kV transmission lines, which will span across the two states and Odisha.

How have Power Grid shares performed?

Power Grid Corp shares closed 0.19% lower at ₹285.15 after the trading session on Tuesday, June 16, compared to ₹285.70 at the previous market close, according to NSE data. The company announced the order book update after the market operating hours on June 16.

Shares of Power Grid Corp have delivered more than 111% returns on their investment in the last five years, and over 54% gains in the last three years, according to the exchange data. However, the company’s stock has lost 1.1% in the past one year.

So far in the calendar year 2026, Power Grid Corp shares have risen 6.9%, but have lost 6.7% in the last one month. The company’s stock was trading 0.7% lower over the last five trading sessions on NSE.

The company’s market capitalisation (m-cap) was at over ₹2.65 lakh crore as of the stock market close on June 16.