Maharatna Power PSU To Buy This Diwali, TP Rs 383; Record Date For Dividend Nov 15

Maharatna Power sector PSU Power Grid Corporation Of India shares slipped over 11% in last 1-month. The PSU is all set to consider and approve financial results and 1st interim dividend on November 6, 2024 for FY2024-25. The company has fixed November 14, 2024 as the record date for 1st interim dividend. Meanwhile, leading brokerage firm JM Financial has recommended investors to buy Power Grid Corporation of India shares for this Diwali 2024 with a target price of Rs 383 and for a target time of 6-12 months period. Current market price of Power Grid Corporation of India Ltd shares on BSE is Rs 315.20 per share. The PSU's market capitalisation stood at Rs 2,93,480.55 crore. Power Grid Corporation shares delivered shareholders return of 56% in last 1-year and zoomed 126% in last 3-years. Check key details below:

Power Grid Corporation of India To Consider Financial Results, Interim Dividend:

As per the exchange filing of Power Grid Corporation of India dated October 29, 2024, " a meeting of Board of Directors of POWERGRID is scheduled to be held on Wednesday, 06th November, 2024 to consider and approve, amongst other items of Agenda, the Unaudited Financial Results of the Company for the quarter and half year ended 30th September, 2024 after these results are reviewed by the Audit Committee and the declaration of 1st Interim Dividend out of the profits of the Company for the FY 2024-25."

Power Grid Corporation of India Sets Record Date For Interim Dividend:

The exchange filing added, "pursuant to Regulation 42 of SEBI LODR, it is informed that the Company has fixed Thursday, 14th November, 2024 as the 'Record Date' for the purpose of ascertaining the eligibility of the Shareholders for payment of Interim Dividend, if declared, by the Board of Directors."

Power Grid Corporation Dividend History:

Power Grid Corporation announced 39 dividends since March 10, 2008. In last 1-year, Power Grid Corporation announced an equity dividend amounting to Rs 11.25 per share. At the current share price of Rs 315.20 per share, Power Grid Corporation of India Ltd offers a dividend yield of 3.57%.

Power Grid Corporation Shares Performance:

The 52-week high price of Power Grid shares on BSE is Rs 366.20 per share (as on 25/09/2024) and 52-week low price is Rs 196.20 per share (as on 26/10/2023), respectively. Power Grid Corporation shares zoomed 20% in last 6-months, soared 39% so far this year, gained 114% in last 3-years, and offered return of 191% in last 5-years.

Power Grid Bonus Share History:

Power Grid Corporation of India offered 2 bonuses since July 29, 2021. The last Bonus that Power Grid Corporation of India recommended was in the proportion of 1:3 with ex-date fixed as September 12, 2023.

Power Grid Shareholding:

FII/FPI have decreased holdings from 28.73% to 28.26% in September 2024 quarter. Number of FII/FPI investors increased from 1438 to 1466 in September 2024 quarter. Mutual Funds have increased holdings from 11.61% to 12.26% in September 2024 quarter. Number of MF schemes remains unchanged at 39 in September 2024 quarter. Institutional Investors have increased holdings from 45.06% to 45.16% in September 2024 quarter. Lici new pension plus balanced fund has 2.34% stake while Parag parikh flexi cap fund has 1.95% stake in Power Grid, according to information available at Trendlyne.

Power Grid Corporation Bonus Share History:

It announced 2 bonus issues since July 29, 2021. The PSU's last bonus issue was declared in the ratio of 1:3 with ex-bonus date was set as September 12, 2023.

Power Grid Corporation About:

Power Grid Corporation of India Limited is a Schedule 'A', 'Maharatna' Public Sector Enterprise of Govt. of India which was incorporated on 23rd Oct 1989 under the Company Act, 1956. POWERGRID, one among the largest power transmission utilities in the world, has developed expertise in its core areas such as power transmission, sub-transmission system, distribution management, load dispatch & communications, in India and abroad, as per its official website.

Disclaimer:

The stock has been picked from the brokerage report of JM Financial. 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.