Power Grid Share Price Surge 13% in Two Days After FY26 Capex Guidance Upgrade

FY26 Capex Guidance Raised to ₹32,000 Crore

At its analyst meet, Power Grid’s management announced a revision in FY26 capex guidance to ₹32,000 crore, up from the earlier estimate of ₹28,000 crore. Notably, as of January 31, 2026, the company had already incurred ₹29,200 crore in capex, surpassing its earlier full-year guidance well before the financial year end. This early achievement provided management with confidence to upgrade its outlook.

Capitalisation Target Also Upgraded

Alongside capex, Power Grid also raised its capitalisation guidance for FY26 to ₹22,000 crore, from the earlier ₹20,000 crore. Capitalisation stood at ₹18,700 crore by the end of January 2026, indicating that the company remains firmly on track to meet and potentially exceed its annual targets.

Management stated that the revised guidance reflects strong execution visibility, timely project completion, and steady progress across transmission infrastructure projects.

Power Grid Corporation Financial Performance in Q3FY26

Power Grid delivered a solid operational performance in the third quarter of FY26, reinforcing investor confidence, with revenue rising to ₹12,599 crore from ₹11,743 crore in Q2FY26 and ₹11,233 crore in Q3FY25, while profit after tax increased to ₹4,185 crore compared with ₹3,566 crore in the previous quarter and ₹3,862 crore a year ago. 

For the nine-month period of FY26, net profit stood at ₹11,382 crore, nearly unchanged from ₹11,379 crore in the corresponding period last year.

Interim Dividend Announcement 

Adding to positive sentiment, Power Grid’s board approved a second interim dividend of ₹3.25 per share for FY26, representing 32.5% of the paid-up equity capital, with February 9, 2026 set as the record date and the dividend scheduled to be paid on February 27, 2026.

Power Grid Corporation Share Price Jumped Over 13% in the Last Two Days

On Tuesday, the Power Grid Corporation of India share price jumped over 5% to its three-month high. As of 11:59 a.m., the stock price was trading at ₹284.35 per share, up by 5.16%. In the last two trading session the share price has gained over 13%. In the last 12 months, the stock price is down by 2.95%.

Outlook

The sharp rally in Power Grid shares reflects market confidence in the company’s execution capabilities, rising capex intensity, and long-term transmission growth opportunity. With FY26 capex and capitalisation already nearing revised targets, Power Grid appears well-positioned to benefit from India’s expanding power infrastructure needs.

Management’s guidance upgrade, coupled with steady earnings growth and dividend support, reinforces Power Grid’s status as a core infrastructure play with defensive characteristics and long-term growth visibility.