PowerGrid slips after bulk deal

PowerGrid Corporation of India fell 0.82% to Rs 199.10 at 11:45 IST on BSE after a bulk deal of 7.50 lakh shares was executed on the scrip at Rs 199.35 per share at 10:12 IST on BSE.

Meanwhile, the S&P BSE Sensex was down 113.77 points or 0.34% at 32,939.27.

On the BSE, 7.71 lakh shares were traded in the counter so far as against average daily volume of 3.26 lakh shares in the past one quarter. The stock had hit a high of Rs 202 and a low of Rs 198.95 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 176.65 on 27 December 2016.

 

The stock had underperformed the market over the past one month till 13 December 2017, sliding 5.04% compared with 0.06% gains in the Sensex. The scrip had also underperformed the market in past one quarter, declining 6.08% as against Sensex's 2.69% rise. The scrip had also underperformed the market in past one year, rising 8.4% as against Sensex's 23.8% rise.

The large-cap power distribution 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 57.9% stake in the firm as at 30 September 2017.

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