(Ticker Symbol: 532898 | % Change: +2.43% | Closing Price: ₹229.85)
Introduction
In what was generally a poor trading session for the stock market, Power Grid Corp. of India Ltd. (532898) managed to buck the trend by rallying 2.43% to reach a closing price of ₹229.85 on Thursday. This surge comes as the S&P BSE Sensex Index (1) dipped 0.19% to settle at 69,521.69.
Setting a New 52-Week High
Power Grid Corp. of India Ltd. reached a significant milestone by surpassing its previous 52-week high of ₹226.25, which was achieved on December 6.
Underperformance Relative to Competitors
However, compared to some of its rivals, Power Grid Corp. of India Ltd. underperformed on Thursday. Tata Power Co. Ltd. (TATAPOWER) saw an impressive increase of 10.76%, closing at ₹325.80, while Gujarat Industries Power Co. Ltd. (517300) recorded a gain of 2.54% to end the day at ₹181.85.
Trading Volume Analysis
The trading volume for Power Grid Corp. of India Ltd. was reported at 968,436 shares, which is 158,246 shares below its 50-day average volume of 1.1 million.
