Power Grid Corporation of India rose 1.74% to Rs 143.50 at 12:10 IST on BSE after the company said its board of directors accorded approval to investment proposals aggregating Rs 2510.34 crore for various transmission projects.
The announcement was made by the company after market hours yesterday, 13 January 2016.Meanwhile, the S&P BSE Sensex was down 41.22 points or 0.17% at 24,802.84.
On BSE, so far 69,758 shares were traded in the counter as against average daily volume of 1.48 lakh shares in the past one quarter. The stock hit a high of Rs 144.10 and a low of Rs 141.60 so far during the day. The stock hit a 52-week high of Rs 159 on 28 February 2015. The stock 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 13 January 2016, rising 10.15% compared with Sensex's 0.76% fall. The scrip had also outperformed the market in past one quarter, gaining 6.25% as against Sensex's 7.42% fall.
The large-cap company has equity capital of Rs 5231.59 crore. Face value per share is Rs 10.
Power Grid Corporation of India announced that the board of directors of the company at its meeting held on 12 January 2016 accorded approval to investment proposals aggregating Rs 2510.34 crore for various transmission projects, including Rs 1455.47 crore for strengthening its network in the southern region.
PowerGrid Corporation of India's net profit rose 20.5% to Rs 1448.04 crore on 18.1% rise in net sales to Rs 4904.55 crore in Q2 September 2015 over Q2 September 2014.
As per the shareholding pattern, the Government of India holds 57.9% stake in the firm as at 30 September 2015.
PowerGrid Corporation of India is an electric power transmission utility company.
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