Power Grid Corporation of India Ltd (NSE: POWERGRID): PSU stock Power Grid Corporation of India Ltd recently announced a dividend in its quarterly results, the record date of which is approaching.
The share price of Power Grid Corporation India Limited was traded at 319.20 rupees on Wednesday. The company’s market cap is Rs 2.97 lakh crore.
A brokerage company has launched coverage of the stock owned by the government-owned Power Grid Corporation of India (PGCIL). The brokerage firm claimed that it has made use of this cycle of capex.
This brokerage has launched an outperform rating for Power Grid Corporation of India Ltd with a target price of price of Rs 380. The brokerage said that Power is set to benefit from a sharp jump in transmission capex after the proxy play slowdown on renewable energy development.
The substantial TAM rebound has overcome concerns related to competition regarding the return on working capital invested in the transmission business. Power Grid Corporation of India Ltd should be preferred over NTPC.
There are five reports on Power Grid Corporation of India Ltd on the trend line, which are recommending buying this stock for an upside target of 10% from the current level. The average target of the stock in these reports is coming at Rs 348.
Power Grid Q2 Results FY2024-25
This month Power Grid Corporation of India Ltd announced the results for the second quarter of FY 2024-25. The net profit consolidated of the company was almost constant at 3,793.02 crore rupees during the period between July and September of this financial year.
The company earned an overall net profit of 3,781.42 crore rupees during the period that ended on September 30th, 2023.
Power Grid Dividend 2024
Power Grid Corporation of India Limited has declared a dividend of 45 percent per share in the current fiscal year.
This means that a dividend of 4.50 rupees is available per equity share based on the face value of Rs 10. It has also set the expiration date and the record time for the interim dividend to November 14.
This year Power Grid Corporation of India Limited has paid a dividend of Rs 4.50 in February and Rs 2.75 in August.
In 2023, the state-owned company announced a dividend of 5 in February and 4.75 rupees in August, and the dividend was Rs 4 in November. PGCIL’s dividend payout PGCIL according to the market rate is 3.65 %.
Power Grid Corporation Of India Share Price History
Power Grid Corporation of India Limited shares showed an upward return that was -0.48% as well as 0.16 % over 2 weeks and 1 week respectively.
The company’s share fell in value by 3.54% and 5.33 % over the past month and three months, respectively. On a YTD basis, shares of the company increased by 33.89% percent.
The company’s share has gained 50.26 percent, 98 percent, 133 percent, 202.23 percent, and 295 percent in the last 1 year, 2 years, 3 years, 5 years, and 10 years, respectively.
Quick Fact
| Power Grid Corporation of India | Details |
|---|---|
| Stock price | ₹319 (-1.15%) |
| Market Cap | ₹2.97 lakh crore |
| Dividend Rate | 45% per share |
| Dividend per Share | ₹4.50 |
| Face Value per Share | ₹10 |
| Interim Dividend Record Date | November 14 |
| Previous Dividend February 2024 | ₹4.50 |
| Previous Dividend August 2024 | -₹0.48 |
| Dividend Payout (Market Rate) | 3.65% |
| Q2 Net Profit FY 2024-25 | ₹3,793.02 crore |
| Net Profit Sept 30, 2023 | ₹3,781.42 crore |
| Brokerage Rating | Outperform |
| Possible Target Price | ₹380 |
| Avg Target Price (5 reports) | ₹348 |
| Transmission Capex Growth | Expected |
| 1 Week Return | 0.16% |
| 2 Week Return | 1.83% |
| 1 Month Return | -3.54%% |
| 3 Month Return | -5.33% |
| YTD Return | 33.89% |
| 1 Year Return | 50.26% |
| 2 Year Return | 98% |
| 3 Year Return | 133% |
| 5 Year Return | 202.23% |
| 10 Year Return | 295% |
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