Power Grid Corporation of India declines on weak Q2 results

Power Grid Corporation of India declined 0.95% to Rs 146.05 at 9:30 IST on BSE after the company reported 3.06% fall in net profit to Rs 1201.27 crore on 4.99% rise in total income to Rs 4309.26 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced after market hours on Tuesday, 11 November 2014.

Meanwhile, the S&P BSE Sensex was up 115 points or 0.41% at 28,025.12.

On BSE, so far 7,019 shares were traded in the counter as against average daily volume of 4.1 lakh shares in the past one quarter.

The stock hit a high of Rs 148 and a low of Rs 146 so far during the day. The stock had hit a 52-week high of Rs 150.85 on 11 November 2014. The stock had hit a 52-week low of Rs 91.70 on 28 November 2013.

The stock had outperformed the market over the past one month till 11 November 2014, rising 8.5% compared with the Sensex's 6.13% rise. The scrip had also outperformed the market in past one quarter, gaining 12.34% as against Sensex's 9.37% rise.

The large-cap power utility firm has an equity capital of Rs 5231.59 crore. Face value per share is Rs 10.

The Government of India holds 57.9% stake in the firm as at 30 September 2014.

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