Power Grid drops after large bulk deal

Power Grid Corporation of India lost 1.58% to Rs 196 at 15:16 IST on BSE after a large bulk deal of 44.13 lakh shares was executed on the scrip at Rs 196.80 per share at 12:07 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 89.17 points or 0.26% at 34,754.34.

Bulk deal boosted volume on the counter. On the BSE, 52.65 lakh shares were traded in the counter so far as against average daily volume of 2.61 lakh shares in the past one quarter. The stock had hit a high of Rs 200 and a low of Rs 194.30 so far during the day. The stock had hit a record high of Rs 226.40 on 8 August 2017. The stock had hit a 52-week low of Rs 188.05 on 3 March 2017.

The large-cap company has equity capital of Rs 5231.59 crore. Face value per share is Rs 10.

PowerGrid Corporation of India's net profit rose 14.4% to Rs 2141.04 crore on 16% rise in net sales to Rs 7252.84 crore in Q2 September 2017 over Q2 September 2016.

The Government of India holds 56.91% stake in the firm as at 31 December 2017.

Power Grid Corporation of India is a state run electric power transmission utility company.

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