PSU Stock Dividend of Rs. 4.50: 14th November Record Date; BUY Maharatna Stock?

Founded on October 23, 1989, under the Company Act of 1956, Power Grid Corporation of India Limited (POWERGRID) is a Schedule "A," "Maharatna" Public Sector Enterprise of the Government of India. The largest electric power transmission utility in India, Power Grid Corporation of India, has maintained a consistent "Excellent" rating under the Memorandum of Understanding with the Ministry of Power from 1993 to 1994. It has been listed since 2007 and pays dividends on PSU stock, which yields 3.58% annually.

Power Grid Corporation of India Dividend

The Board of Directors considered and approved "Payment of 1st (first) Interim Dividend of Rs. 4.50/- per equity share of Rs. 10/- each (@ 45% of the paid-up equity share capital) for the Financial Year 2024-25. 1st Interim Dividend will be paid to the Members on Wednesday, 04th December, 2024. Further, as intimated earlier, the Record Date for the purpose of payment of dividend shall be Thursday, 14th November, 2024," said the company in a stock exchange filing.

Power Grid Corporation of India Financials

In the September 2024 quarter, the company's net sales were Rs 11,277.76 crore, up 0.09% from Rs 11,267.07 crore in the September 2023 quarter. In Q2FY25, its net profit was Rs. 3,793.02 crore, up 0.31% from Q2FY24's Rs. 3,781.42 crore. EBITDA increased by 0.96% from Rs. 10,171.73 crore in the year-ago quarter to Rs. 10,269.49 crore in the quarter under review.

Power Grid Corporation of India Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said "POWERGRID is currently trading at Rs 316 and is showing signs of a potential bullish reversal from its weekly support zone, with the price supported by the 200-day EMA. The stock has been consolidating consistently above key support levels, indicating a potential reversal, especially with a recent uptick in trading volume. This volume increase points toward a possible bullish move. If the price closes above Rs 325, the stock could target short-term levels of Rs 340 and Rs 360. On the downside, immediate support lies at Rs 306, presenting a favorable buying opportunity on dips."

"The Relative Strength Index (RSI) is currently at 40 and trending upward, signaling strengthening buying momentum. For effective risk management, a stop-loss at Rs 300 is recommended to protect against any unexpected market reversals. Based on technical analysis and current market conditions, POWERGRID presents an attractive buying opportunity for traders aiming for targets of Rs 340 and Rs 360, with a recommended stop-loss at Rs 300 to manage risk effectively," said the company in a stock exchange filing.

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.