State-run Power Grid Corporation of India’s shares plunged over four percent in early trade on May 23, as investors reacted to the public-sector power major’s weak earnings report for the quarter ended March.
At 9.30 am, Power Grid’s stock price tumbled four percent to Rs 309, making the public-sector power major the top loser on the benchmark Nifty 50 index.
The power major reported a 3.6 percent fall in net profit for the March quarter, with earnings reaching Rs 4,166 crore compared to Rs 4,323 crore during the year-ago period.
