Power Grid Shares Surge 8% as FY26 Capex Guidance Raised to ₹32,000 Crore

India (POWERGRID) shares soared nearly 8% on February 2, 2026, hitting an intra-day high of ₹270 and emerging as the top gainer on both the Sensex and Nifty indices. The sharp rally followed the state-owned transmission major's upward revision of its FY26 capital expenditure (capex) guidance during an analyst meet and investor presentation. Management increased the FY26 capex target to ₹32,000 crore from the earlier ₹28,000 crore. Additionally, the company raised its capitalization guidance for the current fiscal year to ₹22,000 crore from the previous ₹20,000 crore. As of January 31, 2026, Power Grid had already achieved capex of ₹29,200 crore — surpassing the original full-year guidance — underscoring robust project execution and strong order pipeline visibility. The management highlighted that the revised targets reflect accelerated progress on ongoing transmission projects, higher award inflows, and confidence in sustained momentum through FY26 and beyond.