Power Grid Corporation of India rose 1.58% to Rs 234 after the PSU company fixed 30 July 2021 as the record date for bonus issue.
The company will issue one bonus equity share of face value Rs 10 each for every three equity shares held. The proposal is subject to approval of shareholders at the extra ordinary general meeting (EGM) scheduled on 20 July 2021.Power Grid Corporation of India was established by the Government of India (GoI) as the central transmission utility of India. As of 31 March 2021, the Government of India held 51.34% in the electric utility manufacturing company.
On a consolidated basis, the PSU company's net profit rose 6.42% to Rs 3,526.23 crore on a 3.57% increase in revenue from operations to Rs 10,510.23 crore in Q4 March 2021 over Q4 March 2020.
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