Shares of Power Grid Corporation of India Ltd are trading flat on 9th January after touching a day’s high of Rs 263.80, despite the company saying on Thursday, 8th January, that it has been declared the successful bidder under tariff-based competitive bidding (TBCB) to establish an inter-state transmission system.

The project involves strengthening the transmission network to integrate additional renewable energy potential. This includes Davanagere (0.25 GW) and Bellary (2.75 GW) in Karnataka.

The project has been awarded on a build, own, operate, and transfer (BOOT) basis. It includes a 400 kV double-circuit transmission line in Karnataka, along with associated line bay works at both ends.

It also involves upgrading existing infrastructure, including interconnecting transformers (ICTs) and line bays at the Davanagere and Bellary pooling stations.

Power Grid said it received the letter of intent (LoI) for the project on 8th January.

For Q2FY26, the company reported a 6% year-over-year decline in net profit. Profit decreased to Rs 3,566 crore from Rs 3,793 crore a year ago.

Revenue rose 1.8% year-over-year to Rs 11,476 crore, while EBITDA fell 6.1% to Rs 9,114 crore. EBITDA margin narrowed to 79.4% from 86% in the same quarter last year.

The board approved the payment of a first interim dividend of Rs 4.50 per equity share for FY26.

At 11:58 AM, shares of Power Grid were trading 0.37% higher at Rs 260.25 on NSE.

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