Power Grid Corp gains after decent Q2 results

Power Grid Corporation of India rose 1.69% to Rs 189 at 9:21 IST on BSE after net profit rose 7.9% to Rs 2309.49 crore on 14.2% increase in net sales to Rs 8283.03 crore in Q2 September 2018 over Q2 September 2017.

The result was announced after market hours yesterday, 5 November 2018.

Meanwhile, the S&P BSE Sensex was up 125.32 points, or 0.36% to 35,076.24.

On the BSE, 1200 shares were traded in the counter so far compared with average daily volumes of 1.41 lakh shares in the past two weeks. The stock had hit a high of Rs 189 and a low of Rs 185.75 so far during the day. The stock hit a 52-week high of Rs 217 on 24 May 2018. The stock hit a 52-week low of Rs 174.25 on 26 July 2018.

Power Grid Corporation of India is a state-owned electric utility company headquartered in Gurugram, India. The company transmits about 50% of the total power generated in India on its transmission network.

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