Shares of Power Grid Corporation of India fell one percent on May 19 ahead of March quarter earnings.
At 2:34 pm, the stock was quoting at Rs 233.10, down 0.93 percent with lower volumes. The scrip was trading with volumes of 212,219 shares so far today, as compared with its five day average of 644,814 shares, a decrease of 67 percent.
YTD, the stock has gained 9 percent while it is up merely 2 percent in the past one year.
Elara Securities expects the largest transmission utility to post higher growth on increased capacity. Even Kotak Institutional Equities sees healthy growth in revenue owing to asset capitalisation of Rs 73 billion in FY23.
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Consolidated revenue is seen rising 10.4 percent YoY and 4.8 percent QoQ to Rs 11,797.2 crore while adjusted net profit could rise 12 percent YoY and 30 percent QoQ during the quarter ended March to Rs 4,311.1 crore, according to Elara Securities.
Analysts would track Power Grid’s focus on new business avenues such as smart metering and capital expenditure guidance.
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