Power Grid Corp hits record high after robust Q1 earnings

Power Grid Corporation of India was up 1.43% at Rs 180.45 at 14:18 IST on BSE after net profit rose 32.9% to Rs 1801.77 crore on 30.6% growth in total income to Rs 6259.30 crore in Q1 June 2016 over Q1 June 2015.

The result was announced during market hours today, 16 August 2016.

Meanwhile, the S&P BSE Sensex was down 162.48 points or 0.58% at 27,989.92.

On BSE, so far 6.03 lakh shares were traded in the counter as against average daily volume of 3.97 lakh shares in the past one quarter. The stock hit a high of Rs 183.05 so far during the day, which is a record high for the counter. The stock hit a low of Rs 178.80 so far during the day. The stock had hit a 52-week low of Rs 120.75 on 10 September 2015. The stock had outperformed the market over the past one month till 12 August 2016, advancing 6.81% compared with 1.24% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 23.8% as against Sensex's 9.16% rise.

 

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

State-run Power Grid Corporation of India is an electric power transmission utility company. Government of India currently holds 57.9% stake in the firm (as per the shareholding pattern as on 30 June 2016).

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