Rs. 3.25 Dividend Paying PSU Stock: Record Date Set; Power Grid Share Price Target?

The Government of India's Schedule "A," "Maharatna" Public Sector Enterprise is Power Grid Corporation of India Limited (POWERGRID). It is the largest electric power transmission corporation in India and is publicly traded. The government of India owns a 51.34% stake in the firm, with institutional investors and the general public holding the remaining shares.

Power Grid Dividend

The Board of Directors approved the "Payment of 2nd (second) Interim Dividend of Rs. 3.25/- per equity share of Rs. 10/- each (@32.50% of the paid-up equity share capital) for the Financial Year 2024-25. 2nd Interim Dividend will be paid to the Members on Friday, 28th February, 2025. Further, as intimated earlier, the Record Date for the purpose of payment of dividend shall be Friday, 07th February, 2025," said the PSU company in a stock exchange filing.

Power Grid Q3 Financials

For the third quarter that concluded on December 31, 2024, Power Grid Corporation of India Ltd. reported a 4.1% year-on-year (YoY) drop in net profit at Rs 3,861.6 crore. According to a regulatory filing, Power Grid Corporation of India reported a net profit of Rs 4,028.3 crore for the equivalent quarter of the previous fiscal year. Compared to the equivalent period of the previous fiscal year, when it was Rs 11,579.8 crore, the company's revenue dropped by 3% to Rs 11,233 crore in the quarter under review. Compared to Rs 10,242.9 crore in the same period last fiscal year, EBITDA slipped 6.9% to Rs 9,537.9 crore in the third quarter of the current fiscal year. In Q3FY25, the EBITDA margin was 84.9% compared to 88.5% in Q3FY24.

Power Grid Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "POWERGRID is currently trading at ₹283, showing strong signs of reversal from key support levels. The stock has been under selling pressure since the end of September, experiencing a correction of nearly 25% from its all-time high. However, it has recently formed a bullish hammer on the daily timeframe, indicating a potential shift in market sentiment with increased buying momentum. The stock is also finding support at the 20 EMA on the monthly chart, which further strengthens the bullish outlook."

"Additionally, the Relative Strength Index (RSI) is at 38.11 and trending sideways, signaling a neutral sentiment. Should the RSI begin to rise, it will provide further confirmation of a potential upward move. The ₹279 level is expected to act as a strong support on the downside. Given the favorable technical setup, POWERGRID presents a compelling buying opportunity at the current level of ₹283, with a stop-loss placed at ₹270. The stock has the potential to reach ₹308 in the short term," the analyst further commented.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.