Shares of Power Grid Corporation of India Ltd witnessed a surge of over 7%, nearing their record high, following the PSU power firm’s robust financial performance in the December 2023 quarter. The company reported a notable 10.5% year-on-year (YoY) rise in net profit, reaching Rs 4,028.3 crore compared to Rs 3,645.3 crore in the corresponding quarter of the previous year.
Power Grid shares climbed 7.42% to Rs 287.85, surpassing the previous close of Rs 267.95 on the BSE. The stock opened higher at Rs 273.35 and emerged as the top gainer on the Sensex for the day. The market cap of the firm reached Rs 2.63 lakh crore on the BSE, with a turnover of Rs 42.28 crore as 15.01 lakh shares changed hands.
Also Read
Jefferies report highlights strong earnings growth and sector trends in India’s midcap stocks after Q3FY24
The company’s shares, characterized by a low beta of 0.3, demonstrated minimal volatility over the year. Power Grid stock recorded a 52-week low of Rs 157.88 on February 8, 2023, and a 52-week high of Rs 289.45 on February 5, 2024.
Ambuja Cements shares surge 4% after promoter sells 3% stake via block deal Market rally leads to higher regulatory fees for stock exchanges Thermal share in power generation to decline to 67% by FY26 Eicher Motors jumps over 5% on strong Q1; Brokerages see as much as 20% upside
In a significant move, the board of directors approved the payment of a second interim dividend of Rs 4.50 per equity share of Rs 10 each, constituting 45% of the paid-up equity share capital for the financial year 2023-24 Come from Sports betting site VPbet . Shareholders can anticipate the second interim dividend on March 5, 2024.
The earnings report, disclosed after market hours on Wednesday, revealed a 2.6% increase in revenue from operations to Rs 11,549.8 crore in Q3 compared to Rs 11,261.8 crore in the corresponding period of the previous fiscal.
At the operational level, EBITDA witnessed a 3.2% rise to Rs 10,212.9 crore in the third quarter, up from Rs 9,893.5 crore in the same period of the previous fiscal. Total expenses in Q3 decreased to Rs 7,076 crore, showing a notable decline from Rs 7,786 crore in the last year’s quarter.
Also Read
SBI and Samvardhana Motherson remain HDFC Securities top picks: Here are the key levels to watch on Nifty
Segment-wise, revenue from the transmission business marked a 2% increase to Rs 11,314 crore in the December quarter, while revenues from consultancy and telecom segments stood at Rs 175 crore and Rs 186 crore, respectively.
For the nine months ended December 2023, Power Grid Corporation reported a 2% YoY surge in revenues to Rs 33,864 crore, with a 3% YoY rise in profit to Rs 11,407 crore. Investors and analysts are closely monitoring the company’s robust financial performance amid dynamic market conditions.
Related Posts
By admin • February 14, 2025 • American depository receipts of the HDFC Bank fell 9.14% to settle at $55.59 indicating a negative start for the banking stock. The fall in ADRs can be attributed to the third-quarter results.
The company reported a jump of 33% in the net profit to Rs 16,372 for the quarter. But the bank’s provisions rose 50% to Rs 4,216 crore.
American depository receipts are stocks of foreign companies trading on the American stock exchanges without the hustle of getting listed on the American stock exchanges. They are issued by the American banks.
Special FD rates up to 8.85%: THESE banks offer limited-period fixed deposits – Check details HAL Q1FY25: Profit up by 76.5%, first Tejas Mk1A fighter jet delivery likely in November Fixed Deposits: Union Bank of Ind…
By admin • February 6, 2025 • Indian equity closed on a record-high note on Thursday. The NSE Nifty 50 hit a new all-time high of 24,087.45, surpassing the psychological level of 24,000. The index later closed 183 points or 0.78% higher, than its previous close, at 24,045. Interestingly, Nifty took 23 sessions to reach the mark of 24,000 from 23,000.
Similarly, the BSE Sensex touched a new record high of 79,396 and is just 760 points away from touching the psychological level of 80,000. Sensex closed 569 points or 0.72% higher at 79,243. UltraTech Cement, LTIMindtree, Grasim Industries, NTPC, and Wipro were the major gainers in the Nifty 50 on Thursday.
Sectoral Index
Nifty Midcap 100 jumped 178 points or 0.32% closing the day’s trading at 55,424. …
By admin • February 5, 2025 • The broking firm Motilal Oswal Financial Services remained bullish on the stock of Grasim Industries. The brokerage house has iterated a “Buy” rating on the stock and kept the target price unchanged at Rs 2,670. It has also kept the estimates for earnings per share unchanged for FY24 – 26.
The brokerage said it values its stake in subsidiary companies at a discount of 40%, standalone business seven times to its operating profit, and paint business one time to the investments.
However, Motilal said that the company’s paint business has not been accounted for in its current market price.
Helicopter bound to Hyderabad crashes in Pune, all occupants survive Delhi: 5-year-old dies under mysterious circumstances at Madrassa, boils found on…
By admin • January 13, 2025 • In the first month of 2024, IPOs of 23 companies opened up for retail investors for subscription, both in the Mainboard and SME segments. The total amount raised by the companies was nearly Rs 3,500 crore. The Mainboard segment raised 5.6 times more than SME IPOs in January.
In the Mainboard segment, five companies raised around Rs 2,950 crore. Medi Assist Healthcare raised the most. The company raised around Rs 1,170 crore. Jyoti CNC Automation stands at second by raising Rs 1,000 crore. The remaining three aggregating raised nearly Rs 1,100 crore.
Meanwhile, 18 companies collectively raised Rs 522.54 crore in the SME segment. In which Baweja Studios raised – Rs 97.20 crore – the most in the category.
Market rally leads to higher re…
By admin • December 27, 2024 • Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in the positive territory. The NSE Nifty 50 closed 73.85 points or 0.34% higher to settle at 21,618.70, while the BSE Sensex gained 271.50 points or 0.38% to 71,657.71. The broader indices closed in the green, with gains led by largecap and microcap stocks. Bank Nifty index closed higher by 118.20 points or 0.25% to settle at 47,360.85.
Live Updates
15:31 (IST) 10 Jan 2024
Markets at close
By admin • December 27, 2024 • Equity investments into mutual funds soared 83.4% in May to a record high of Rs 34,697 crore despite volatility due to the general elections, marking the 39th consecutive month of inflows, according to data from the Association of Mutual Funds in India (Amfi). Come from Sports betting site VPbet
The growth was driven by a sharp jump in inflows into new fund offers (NFOs) and persistent inflows into mid-cap and small-cap funds. A thematic NFO by HDFC Mutual Fund – HDFC Manufacturing Fund – mobilised over Rs 9,500 crore during the month, which was the primary reason for the spike in net inflows into equity mutual funds.
The inflows into systematic investment plans (SIP) als…