This Maharatna PSU Stock Falls 8% Today, Trading At 19% Discount From 52-Week High

Shares of Power Grid Corporations of India fell 8.07% on Friday as Indian share market witnessed sharp decline today amid global sell off after US Federal Reserve hiked interest rate by 75 bps in this week FOMC meeting.

The Indian stock market benchmark Sensex plunged 1020 points or 1.73% on Friday at 58098 while Nifty fell by 302 points at 17,327 in late noon trade. Several Tata group stocks also witnessed sharp decline with Tata Steel Long Products fell by 12.07% on mega merger plans.

Meanwhile, the current market price of Power Grid Corporation of India Ltd is Rs 202 apiece after the decline of 8.07%. The company has a market capitalization of Rs 1,41,113.41 crore. The stock has given a return of 28% in the last 5 years, 43% in the last 3 years, and 13% in the last 1 year. However, the stock has registered a dip of 11% in just last 30 days.

Currently, the shares of Power Grid Corporations of India are trading at a discount of 19% from 52-week high.

The large cap company came into existence in the year 1989.

The company for the quarter ended 2022 declared a consolidated total income of Rs 11,168.54 crore, up .91 % from last quarter total income of Rs 11,067.94 crore. It has announced a net profit after tax of Rs 3,805.74 crore in latest quarter.

Power Grid Corporation of India Limited(POWERGRID), is a Schedule 'A', 'Maharatna' Public Sector Enterprise of Government of India.

Power Grid Corporation of India Limited is a transmission company engaged in the power transmission business with responsibility for planning, implementation, operation and maintenance of inter-state transmission systems and operation of national and regional load dispatch centres.