Large Cap Maharatna PSU Stock Set To Trade Ex-Bonus On Sept 12, Trading Near 52-Week High

Power Grid Corporation of India Ltd. is set to trade ex-bonus next month on Sept 12, 2023, for bonus issue in a ratio of 1:3. The Board of Directors of the company in its regulatory filing on Aug 08, 2023, fixed the record date. It is a power sector large-cap company with a market cap of s 1,72,537.83 Crore.

Power Grid Corporation of India is a Schedule 'A', 'Maharatna' Public Sector Enterprise of Govt. of India. Govt. of India has 51.34% holding in the company, and the balance 48.66% is held by Institutional Investors and the public.

"it is to inform that the Company has fixed the Record Date as 12th September, 2023 for the purpose of ascertaining the eligibility of members entitled for issuance of Bonus Shares of the Company in proportion of 1:3 i.e.1 (One) equity share of nominal value Rs.10/- (Rupees Ten Only) each for every 3 (Three) equity shares of nominal value of Rs. 10/- (Rupees Ten Only) each held by Member(s)," the Board said in an exchange filing.

On Wednesday, the stock of Power Grid Corporation of India opened at Rs 249.50 per share on BSE, currently trading at Rs 248 per share.

The stock has declined 0.12% in the past 1 week, while it gained 1.37% in the last 1 month. It has given 8.91% return in the last 1 year.. In 2 and 3 years, it has given 40.87% and 74.55% returns, respectively. In the last 5 years, it has given 73.68% positive return.

The stock traded its 52-week high at Rs 266.85 per share on July 31, 2023, while it hit 52-week low on Sept 26, 2022, at Rs 186.35 per share.

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