Power Grid Share Price Target 2024, Power Grid Dividend 2024: Shares of state-run Power Grid Corporation on Thursday fell more than 5 per cent on the back of Q4 results. The PSU stock opened lower at Rs 310.45 against the previous close of Rs 325.75.
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The counter made a low of Rs 309, down more than 5 per cent. At 1:15 PM, Power Grid shares traded in the red with a cut of nearly 3 per cent at Rs 312. As many as 2.45 crore shares of the company changed hands around the same time.
Power Grid shares today fell after four-day of consecutive gain. The scrip is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Power Grid Share Price Target 2024
KKunal V Parar, VP of Technical Research and Algo, Choice Broking, said that Power Grid has been trading within an upward rising channel formation for several days, suggesting that the ongoing trend is likely to continue from the current levels. Additionally, the stock has taken support at its 50-day moving average.
“The stock can show the levels of Rs 355 soon. The next target for Power shares is Rs 393. A strong support is placed at Rs 290,” he said.
Power Grid Dividend 2024
Power Grid has announced to pay 27.5 per cent final dividend to its shareholder. The company made the announcement regarding the same in its Q4 results.
“Recommended a final dividend of Rs 2.75 per share (i.e. @ 27.5% on the paid-up equity share capital) for the Financial Year 2023-24 subject to the approval of the shareholders at the ensuing Annual General Meeting of the company,” the company said.
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The final dividend would be paid within 30 days from the date of its declaration at the AGM, the company said.
Power Grid dividend 2024 record date is yet to be announced by the company. The same will be announced in the due course and informed via exchanges.
Power Grid Q4 Results
Power Grid on Thursday announced its Q4 results. The state-run company said that its consolidated net profit for the quarter dropped 3.6 per cent YoY to Rs 4,166 crore. The revenue from operations fell to Rs 11,978 crore, down 2.5 per cent from the corresponding period a year ago.
Power Grid Dividend History
Power Grid has a high dividend yield of 3.81 per cent on each stock. According to BSE website, Power Grid had in February 2024 paid a dividend of Rs 4 on each stock. In November 2023, the state-run company had rewarded its investors by paying a dividend of Rs 4 on each stock just after the bonus of 1:3. The bonus was issued in September.
In August and February 2023, Power Grid had paid a dividend of Rs 4.75 and Rs 5, respectively, on each stock. In 2022, the PSU had paid dividend on three occasions, aggregating to Rs 12.75 on each stock.
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Power Grid is a constituent of S&P BSE SENSEX. As per analytics, its shares have delivered a positive return of 50 per cent in the last 6 months. In one year, the scrip has rallied 80 per cent.
