This PSU stock is trending on September 30

This PSU stock is trending on September 30

Indian Market
by 5paisa Research Team Last Updated: 2022-09-30T11:34:17+05:30

The shares surged 3% on the day.

On September 30, the market is trading in green. At 11:08 am, the S&P BSE Sensex is at 56798.83, up 0.69% on the day, while NIFTY50 is up 0.56% and trading at 16912.85. About sectoral performance, Financials is the top gainer, while IT is the top loser. Regarding stock-specific action, Power Grid Corporation of India Ltd is among the top gainers.

The shares of Power Grid Corporation of India Ltd surged 3% and are trading at Rs 214.5. The stock opened at Rs 207.75 and since has made an intraday high and low of Rs 218.6 and Rs 207.45, respectively.

Power Grid Corporation of India Limited is a Maharatna PSU and India's largest electric power transmission company. The company transports large blocks of power from central generating agencies and surplus power areas to load centres within and across regions. It is administered by the Ministry of Power, Government of India.

FY22 was a very successful year for the company when the highest ever sales and net profit figures were recorded. On a consolidated basis, the FY22 sales and net profit stood at Rs 41616 and Rs 16824 crore, respectively. As per the FY22 period ending the company has ROE and ROCE of 19.4% and 11.5%, respectively.

For the latest June quarter, on a consolidated basis, the company generated revenue of Rs 10905 crore, a YoY improvement of 6.7%. However, its Q1FY23 net profit dropped by 36.62% to Rs 3801 crore from Rs 5998 crore in Q1FY22.

About the shareholding pattern, 51.34% of the stake is owned by the Government of India, 30.25% by FIIs, 15.17% by DIIs, and the rest by 3.24% by non-institutional investors. 

The company has a market capitalisation of Rs 1,51,960.24 crore and is currently trading at a PE multiple of 9.84. The stock has a 52-week high and low of Rs 248.25 and Rs 180.3, respectively.


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