Shares of Power Grid Corporation of India Ltd witnessed a surge of over 7%, nearing their record high, following the PSU power firm’s robust financial performance in the December 2023 quarter. The company reported a notable 10.5% year-on-year (YoY) rise in net profit, reaching Rs 4,028.3 crore compared to Rs 3,645.3 crore in the corresponding quarter of the previous year.
Power Grid shares climbed 7.42% to Rs 287.85, surpassing the previous close of Rs 267.95 on the BSE. The stock opened higher at Rs 273.35 and emerged as the top gainer on the Sensex for the day. The market cap of the firm reached Rs 2.63 lakh crore on the BSE, with a turnover of Rs 42.28 crore as 15.01 lakh shares changed hands.
