Power Grid Corp inches up after block deals

Power Grid Corporation of India rose 0.31% to Rs 98 at 14:40 IST on BSE after three block deals aggregating 32.81 lakh shares were executed on BSE.

A block deal of 1.83 lakh shares was executed at Rs 98.25 per share at 13:53 IST. Another block deal of 21.16 lakh shares was executed at Rs 98.30 per shares at around same time. Third block deal of 9.82 lakh shares was executed at Rs 98.25 per share at 13:54 IST.

The three block deals constitute 0.07% of Power Grid Corporation of India's (PGCIL) equity.

Meanwhile, the S&P BSE Sensex was up 148.51 points or 0.8% at 18,667.95.

On BSE, 34.72 lakh shares were traded in the counter as against average daily volume of 2.72 lakh shares in the past one quarter.

The stock hit a high of Rs 98.80 and a low of Rs 97.05 so far during the day. The stock had hit a 52-week high of Rs 124.45 on 5 September 2012. The stock had 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 August 2013, sliding 11.3% compared with the Sensex's 8.78% fall. The scrip had also underperformed the market in past one quarter, declining 11.38% as against Sensex's 5.87% fall.

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

PGCIL's net profit rose 19.6% to Rs 1040.34 crore on 23% growth in net sales to Rs 3553.75 crore in Q1 June 2013 over Q1 June 2012.

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 30 June 2013).

Powered by Capital Market - Live News