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Power Grid Corporation gains after strong Q3 earnings

Capital Market / 09:22 , Feb 09, 2012

Power Grid Corporation rose 1.81% to Rs 109.60 at 9:17 IST on BSE after net profit rose 36.9% to Rs 809.23 crore on 20.2% growth in net sales to Rs 2466.62 crore in Q3 December 2011 over Q3 December 2010.

The company announced the results after market hours on Wednesday, 8 February 2012.

Meanwhile, the BSE Sensex was down 28.75 points, or 0.16% to 17,678.57.

On BSE, 25,000 shares were traded in the counter as against average daily volume of 5.21 lakh shares in the past two weeks.

The stock hit a high of Rs 110.40 and a low of Rs 109.15 so far during the day. The stock had hit a 52-week high of Rs 112.35 on 15 July 2011. The stock had hit a 52-week low of Rs 93.60 on 12 September 2011.

The stock had underperformed the market over the past one month till 8 February 2012, surging 7.97% compared with the Sensex's return of 11.73%. The stock had, however, outperformed the market in past one quarter, rising 3.86% as against Sensex's rise of 0.78%.

The large-cap state-run power transmission firm has equity capital of Rs 4629.73 crore. Face value per share is Rs 10.

Power Grid Corporation's board of directors, at a meeting held on Wednesday, 8 February 2012, recommended an interim dividend of Rs 0.80 per share for the year ending March 2012. The company has fixed 14 February 2012 as record date for the payment of interim dividend.

 



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