India's Power Grid Corp drops after Q3 profit misses estimates

Power Grid of India

04/02/2025 04:53

** Power Grid Corporation of India  PGRD.NS  slides as much as
4.1% to 272.1 rupees, its lowest in near 10 months
    ** Stock among top five losers on benchmark Nifty 50 index
 .NSEI , which is up 0.7% 
    ** State-run energy transmission firm reported Q3 profit
below estimates, hurt by sluggish power demand
    ** PGRD is the only stock trading in red on the Nifty PSE
index  .NIFTYPSE , which is trading up 1.8% 
    ** PGRD rated "Buy" on avg, same as peer NTPC  NTPC.NS ,
while Tata Power  TTPW.NS , Torrent Power  TOPO.NS  rated "Hold"
- LSEG data
    ** PGRD last down 1.2% 
    ** YTD, PGRD, NTPC, TTPW down ~9%, ~6%, ~8% and ~9% 


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))