Power Grid shares hit a day high of Rs 275.95 on the NSE after shareholders approved raising its borrowing limit to Rs 2.2 lakh crore.

The move followed the company’s annual general meeting, where members passed a special resolution raising the overall borrowing limit from Rs 1,80,000 crore to Rs 2,20,000 crore, an increase of Rs 40,000 crore.

A second resolution at the same meeting raised the domestic limit for private placement of bonds and debentures from Rs 30,000 crore to Rs 35,000 crore for the current financial year, 2026-27.

Shareholders also cleared a separate resolution allowing the company to raise up to Rs 35,000 crore through similar instruments during 2027-28.

Together, these changes give the state-run transmission utility more room to fund its capital spending over the next two years. The AGM covered other business too.

Members confirmed the two interim dividends already paid out this year and approved the final dividend for 2025-26.

They also reappointed Yatindra Dwivedi and Naveen Srivastava as directors following retirement by rotation, and approved Burra Vamsi Rama Mohan’s appointment as Chairman and Managing Director, a role that isn’t subject to retirement by rotation.

The board was given authority to fix statutory auditor fees for the coming year, and the cost auditor’s remuneration was ratified as well.

Power Grid runs a large share of India’s inter-state power transmission network and is a Government of India enterprise.

Even with this rally, the stock had been down over 5% in the past month heading into Friday, and is still down more than 4% over the past year.

As of 14:15 pm, Power Grid shares were trading at Rs 271.95 on the NSE, up 2.70% for the day.

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