PGCIL drops after 3-day 4.6% gains

Power Grid Corporation of India lost 1% to Rs 113.65 at 11:57 IST on BSE, with the stock sliding on profit booking after 3-day 4.69% gains.

Meanwhile, the S&P BSE Sensex was down 24.70 points or 0.13% at 19,711.07.

On BSE, 67,000 shares were traded in the counter as against average daily volume of 4.17 lakh shares in the past one quarter.

The stock hit a high of Rs 115.10 and a low of Rs 113.45 so far during the day. The stock had hit a 52-week low of Rs 100.10 on 14 May 2012. The stock had hit a 52-week high of Rs 124.45 on 5 September 2012.

The stock had outperformed the market over the past one month till 2 May 2013, surging 7.64% compared with the Sensex's 3.65% rise. The scrip had also outperformed the market in past one quarter, rising 3.99% as against Sensex's 0.23% fall.

The large-cap company has equity capital of Rs 4629.73 crore. Face value per share is Rs 10.

Shares of Power Grid Corporation of India (PGCIL) had risen 4.69% in three trading sessions to settle at Rs 114.80 on Thursday, 2 May 2013, from a recent low of Rs 109.65 on 26 April 2013.

PGCIL's net profit jumped 39.5% to Rs 1129.06 crore on 36.3% growth in net sales to Rs 3361.67 crore in Q3 December 2012 over Q3 December 2011.

State-run PGCIL was incorporated in 1989 for transmission of electric power across the country. The Government of India (GoI) holds 69.42% stake in the company (as per the shareholding pattern as on 31 March 2013).

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