News

Shares of Power Grid Corp. of India Ltd. Soar

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Andrew R. Michaud

• November 06, 2023

Power Grid Corp. of India Ltd. (532898) experienced a significant rise in its stock value on Monday. The shares surged by 1.88% to reach 208.20 Indian rupees, showcasing a remarkable performance in the overall positive trading session for the stock market. This increase was supported by the S&P BSE Sensex Index (1), which rose by 0.92% to achieve a value of 64,958.69.

Approaching 52-week High

Closing at 70 paisas below its 52-week high of 208.90 rupees, Power Grid Corp. of India Ltd. seems to be inching closer to reaching a new record. It previously achieved this high on October 17.

Competitor Comparison

In comparison to its competitors, Power Grid Corp. of India Ltd. demonstrated mixed performance on Monday. Tata Power Co. Ltd. (TATAPOWER) observed a rise of 2.02% to settle at 249.55 rupees, while Gujarat Industries Power Co. Ltd. (517300) experienced a modest increase of 0.07%, closing at 151.90 rupees.

Analyzing Trading Volume

Despite the positive market performance, the trading volume for Power Grid Corp. of India Ltd. on Monday was relatively lower than its 50-day average volume. With a trading volume of 666,185 shares, it fell short by 298,398 shares compared to the average volume of 964,583.