Power Grid shares edge lower by 0.5% amid low trading volumes

Power Grid shares: Shares of Power Grid were trading marginally lower in trade on Thursday amid low trading volumes. Power Grid shares opened for trading at Rs 364.85 and rose as much as 0.54 per cent to hit an intraday high of Rs 365.80. However, later in the session, Power Grid shares saw a slight profit booking and Power Grid shares slipped as much as 2.35 per cent from day's highest level to fall to an intraday low of Rs 357.20 on the BSE.

At the day’s highest level, Power Grid shares fell a few paise short of its 52-week high of Rs 366.20.

On the National Stock Exchange, Power Grid shares declined 0.5 per cent to Rs 361.95. Power Grid shares touched an intraday high of Rs 365.80 and low of Rs 357.20

As of 12:01 pm, Power Grid shares traded 0.65 per cent lower at Rs 361.45, underperforming the Sensex which was 0.34 per cent.

Trading volumes in Power Grid shares were lower than usual as 4.52 lakh shares changed hands on the BSE as against an average 5.60 lakh shares traded daily in the past two weeks, data from the BSE showed.

Power Grid Corporation of India on Monday said it was declared as successful bidder for a transmission project.

The company has emerged as bidder under tariff based competitive bidding process, Power Grid said in an exchange filing.

The project comprises installation of STATCOMs at Khavda Pooling Station 1 (KPS1) and Khavda Pooling Station 3 (KPS3) along with associated bays extension work in Gujarat, it said.