PGCIL declines on government's stake-sale reports

Power Grid Corporation of India fell 2.72% to Rs 141.35 at 13:08 IST on BSE on reports the government plans to offload 5% stake in the company via divestment.

Meanwhile, the S&P BSE Sensex was up 161.04 points or 0.61% at 26,586.34.

On BSE, so far 57,000 shares were traded in the counter as against average daily volume of 4.55 lakh shares in the past one quarter.

The stock hit a high of Rs 145.90 and a low of Rs 140.70 so far during the day. The stock had hit a 52-week low of Rs 127.25 on 1 September 2014. The stock had hit a 52-week high of Rs 159 on 28 February 2015.

The stock had outperformed the market over the past one month till 12 June 2015, rising 4.34% compared with Sensex's 1.68% fall. The scrip had also outperformed the market in past one quarter, declining 2.84% as against Sensex's 8.66% fall.

The large-cap power utility firm has equity capital of Rs 5231.59 crore. Face value per share is Rs 10.

Power Grid Corporation of India's (PGCIL) net profit rose 20.1% to Rs 1412.48 crore on 18.5% growth in net sales to Rs 4662.19 crore in Q4 March 2015 over Q4 March 2014.

PGCIL, a navaratna Central Public Sector Enterprise, is India's largest electric power transmission utility. The Government of India held 57.9% stake in PGCIL (as per the shareholding pattern as on 31 March 2015).

Powered by Capital Market - Live News