Power Grid Corporation shares: Shares of state-owned Power Grid Corporation are in constant focus. The company’s shares had closed at Rs 309 last Friday with a slight rise. After the March quarter results, brokerages seem a little cautious about this stock and are advising to sell it. Let us tell you that the shares of Power Grid Corporation have fallen by 3% in the last five days and by 2% in a month. However, the stock has risen 25% so far this year.
What is the brokerage’s opinion?
Kotak Institutional Equities has given ‘Sell’ rating to this power share in its recent report. Its sale target price has been fixed at Rs 245. At the same time, global brokerage firm Morgan Stanley has maintained ‘overweight call’ on Power Grid with a target price of Rs 296. Let us tell you that there has been a decline of about four percent in the net profit of the PSU firm in the March 2024 quarter and it stood at Rs 4,166.33 crore. The reason for the decline has been said to be low income.
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condition of shares
Power Grid has recommended a final dividend of Rs 2.75 per share for financial year 2023-24, subject to the approval of shareholders in the company’s upcoming annual general meeting. Earlier, the company had announced an interim dividend of Rs 4 per share in November 2023. Last year, Power Grid Corporation had announced a bonus issue of 1:3.
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Shares of Power Grid Corporation have consistently given positive returns to investors over the last few years. The six-month return of the stock was 45%. One and three year returns stood at 76% and 150%. Its 52 week high price is Rs 328.35 and 52 week low price is Rs 172.54. The market cap of the company is Rs 2,88,225.71 crore.
