Power Grid shares jump 7%, break two-session losing streak. Here’s why
Shares of Power Grid Corporation jumped nearly 7% to the day’s high of Rs 286 on Thursday after the company reported growth in its December quarter profit and second interim dividend of Rs 4.50 per equity share.
The stock is currently trading close to its 52-week high of Rs 289.40 which it hit on Monday. Today’s gains also break their two sessions declining trend amid strong volume action with more than 1.81 crore shares trading on the NSE around 9:50 am. The state run-company’s stock has delivered a 1-year returns of 80%, significantly outperforming the Nifty which has given near 23% returns during this period.
