PGCIL slips after Q2 results

Power Grid Corporation of India fell 0.30% to Rs 100.35 at 9:55 IST on BSE after net profit rose 10.06% to Rs 1239.20 crore on 26.57% increase in total income to Rs 4104.43 crore in Q2 September 2013 over Q2 September 2012.

The result was announced after market hours on Wednesday, 23 October 2013.

Meanwhile, the BSE Sensex was up 257.01 points, or 1.24%, to 21,024.89.

On BSE, 33,000 shares were traded in the counter compared with average volume of 3.49 lakh shares in the past one quarter.

The counter was volatile in early trade. The stock rose 0.60% at the day's high of Rs 101.25 in initial trades. It fell 0.30% at the day's low of Rs 100.35 so far during the day.

The stock hit a 52-week high of Rs 122.45 on 21 November 2012. The stock hit a 52-week low of Rs 86.70 on 2 August 2013.

The stock had underperformed the market over the past one month till 23 October 2013, rising 1.46% compared with the Sensex's 4.36% rise. The scrip had also underperformed the market in past one quarter, falling 8.62% as against Sensex's 2.29% rise.

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

State-run Power Grid Corporation of India (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 30 September 2013).

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