Power Grid Corporation - Outcome of Board Meeting

Power Grid Corporation of India Ltd(CMP:Rs.84.10) has informed yesterdat that the Board of Directors of the Company at its meeting held on July 12, 2008 has granted in-principle approval to the setting up a wholly-owned subsidiary Company of the Company responsible for Independent Power System Operation. This is in line with the advice of GOI on the arrangement of the operation of national and regional load dispatch Centres received by the Company. (Thebullishtrends)