This PSU stock was buzzing on the bourses on September 30

Vishwesh Sanas
/ Categories: Trending, Mindshare
This PSU stock was buzzing on the bourses on September 30

The stock is India's largest electric power transmission company.

On September 30, Power Grid Corporation of India Ltd is among the Top Gainers. Shares of the company surged 1.75 per cent and closed at Rs 212.15. The stock opened at Rs 207.75.

 

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, with sales and net profit figures at the highest ever levels. Consolidated sales and net profit for FY22 were Rs 41616 and Rs 16824 crore, respectively. As of the end of the fiscal year, the company's ROE and ROCE were 19.4 per cent and 11.5 per cent, respectively. 

 

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

 

About the shareholding pattern, 51.34 per cent of the stake is owned by the Government of India, 30.25 per cent by FIIs, 15.17 per cent by DIIs, and the rest by 3.24 per cent 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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