India's Power Grid hits over one-month low after Q4 revenue decline

Power Grid of India

18/05/2026 05:56

** Shares of Power Grid Corporation of India PGRD.NS fall 4.1% to 293.30 rupees, hitting its lowest level since April 7

** Reports Q4 revenue from operations of 116.66 billion rupees ($1.21 billion), compared to 122.75 billion rupees, a year earlier

** Quarterly profit rises to 45.46 billion rupees from 41.42 billion rupees last year

** Co to host earnings presentation on May 18

** Investec ('hold'; TP: 307 rupees) says earnings were helped by a tax-related gain, while JVs and associates have yet to contribute meaningfully

** Brokerage sees lower regulated returns, limited growth opportunities and tougher competition in project bidding as key risks for the company

** Thirteen of 22 brokerages rate the stock "buy" or higher; their median PT is 316 rupees - LSEG data

** YTD, PGRD up 11% vs 10.7% decline in Nifty 50 Index .NSEI

($1 = 96.2225 Indian rupees)

 (Reporting by Abhinav Parmar in Bengaluru)

 ((Abhinav.Parmar@thomsonreuters.com;))