Power Grid Corporation slip as net profit declines
The stock was down 2% to Rs 145 on the National Stock Exchange
SI Reporter Mumbai Power Grid Corporation declined, in opening trades in an otherwise firm market, after the company reported 3.06% fall in net profit to Rs 1201.27 crore on 4.99% rise in total income to Rs 4309.26 crore in Q2 September 2014 over Q2 September 2013.
The stock was down 2% to Rs 145 on the National Stock Exchange (NSE) at 0950 hrs.
The large-cap power utility firm started the trades at Rs 147 and slipped to a low of Rs 144. A total of 529,000 shares changed hands on BSE and NSE.
The stock has been one of the top picks in the ICICIdirect.com's report on power sector.
