Power Sector PSU Stock Fixes Record Date For Dividend, Emkay Global Suggests Buy For Gain

Leading power sector PSU stock, Power Grid Corporation of India Ltd has fixed February 8, 2023 as the record date for interim dividend, if declared. Meanwhile, Emkay Global has assigned buy call with a target price of Rs 250 apiece. The stock has a dividend yield of 6.55%. The current market price of the stock is Rs 224.95 apiece. Check details pertaining to the stock below:

1. Power Grid Corporation of India Stock Performance

The large cap maharatna stock's last trading price is Rs 224.95 apiece with intraday gain of 0.78%. The stock's 52-week high is Rs 248.25 apiece and 52-week low is Rs 186.35 apiece, respectively. The company has a market capitalisation of Rs 1,56,912.81 crore. It has

2. Power Grid Corporation of India Return

The stock has given a return of over 4% in last 1-week, 6% in last 1-month, 3% in last 3-months, 4% in last 1-year, and nearly 49% in last 3-years. In last 5-years, the stock rallied 53%.

3. Power Grid Corporation of India Dividend History

The company for the year ended March 2022 announced an equity dividend of 147.50% or Rs 14.75 per share. If the current market price of the stock is taken into consideration, it has a dividend yield of 6.55%. The company has a good dividend history and regularly declared dividend for the last 5 years.

4. Emkay Global On Power Grid Corporation of India

The brokerage firm has assigned buy rating to Power Grid Corporation of India with a target price of Rs 250 apiece. If you buy the stock now, you will potentially receive 12% upside. According to the analyst, demand in power sector is said to be returned to its normalized level. Also, the growth is expected to remain resilient as India's manufacturing PMI continue to stay robust. Additionally, with the start of summer, the demand for power may further surge.

5. About Power Grid Corporation

Power Grid Corporation of India Limited (POWERGRID), is a Schedule 'A', 'Maharatna' Public Sector Enterprise of Govt. of India which was incorporated on 23rd Oct 1989 under the Company Act, 1956. It is a listed company, with 51.34% holding of Government of India and the balance is held by Institutional Investors and public, according to its official website.

Disclaimer

The stock has been picked from the brokerage report of Emkay Global. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.