Analysts believe the power transmission company's commentary on new business diversification and pipeline of transmission projects would be keenly monitored

The basis of allotment of FPO would be finalised by 3 February and shares would be credited to successful applicants' demat accounts by 7 February. The new equity shares would be available for trading the next day on 8 February.

The NSE Nifty index closed 0.25 points down at 18118.3

Further, the government is also widely expected to extend tax sops and incentives to more sectors and sub-sectors under the production-linked incentive scheme. In order to play on this theme, investors lapped up shares of the engineering behemoth, which is often viewed as Indias proxy to infrastructure development.

The company capitalised assets worth Rs 207bn in FY22 and the brokerage expect it to capitalise assets worth Rs 120bn in FY23.

"In the power financial space, there is REC, PFC and they deserve a look because a lot of capex is happening in this category and there also the books have been cleaned. They are in a much better position to lend. REC, PFC can be looked at if we are playing the power story."

“Volatility is likely to be the hallmark in the near term amidst December F&O expiry this Thursday. Technically, Niftys major support is seen at the 17,407-17,567 zone with intraday support at 17,871. On the upside, Nifty will now face hurdles at the 18,221 mark, while confirmation of strength only if the index closes above the 18,473 mark,” Prashanth Tapse - Senior VP (Research) at Mehta Equities said.

Promoters held 51.34 per cent stake in the company as of 30-Sep-2022, while FIIs owned 36.84 per cent, DIIs 13.79 per cent.

The NSE Nifty index closed 48.85 points up at 18609.35

Power Grid Corporation of India, incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 151925.36 Crore) operating in Power sector.

The S&P BSE Sensex fell more than 200 points while the Nifty50 closed below 18,600 levels on Wednesday.

S&P BSE Sensex fell more than 200 points while Nifty50 closed below 18,700 levels on Tuesday.

The Sensex is trading at around 22 times its one-year forward earnings, compared with the historical average of 18-19 times, perhaps anticipating an uptick in corporate earnings ahead due to the fall in commodity prices, analysts said.

The NSE Nifty index closed 55.3 points up at 18618.05

One of the questions that seems to be dominating, particularly in the European and US press, is whether it will be a hard landing, a soft landing, or a recession.

The NSE Nifty index closed 23.05 points up at 18267.25

“The new-age tech concept is good but valuations are still crazy and we are seeing the rush is on. Smart people are selling them off. It is going to end and it is going to end pretty badly for lots of investors including institutional investors who even now are buying at this price. Do not catch a falling knife even if the return goes up. But it is a big falling knife and still has a long way to go.”

Bohra Industries, Global Health Ltd., Goa Carbons, Giriraj Civil Devolp and Ace Integrated Solut, hit their fresh 52-week highs at 10:04AM.

Sharekhan is bullish on Power Grid Corporation of India has recommended buy rating on the stock with a target price of Rs 265 in its research report dated November 07, 2022.

ICICI Direct recommended hold rating on Powergrid with a target price of Rs 235 in its research report dated November 07, 2022.

The NSE Nifty index closed 45.8 points down at 18157.0

The growth was driven by higher asset capitalization during the trailing twelve months as well as the reported quarter.

The key factors to watch out include capex and capitalisation during the quarter; upcoming opportunities in the transmission space and update on diversification into smart metering, green businesses and data centre

The BSE Sensex closed at 60,836.41, down 69.68 points or 0.11% from the previous close. The Nifty declined 0.17% or 30.15 points to end at 18,052.70 after losing more than 100 points at market opening. Both indices oscillated between gains and losses for most of the session with the Nifty briefly slipping below 18,000 in early trade.

“One should not see Sun Pharma result as a general lifting of pricing pressure and improvement of margin for the entire Indian pharma industry which is having a leg in the US. I will be cautious. We will have to go company wise. Also, the US FDA action and unnecessary challenges are not over for the pharma industry as a whole.”

“We are getting a re-pricing of short-term liabilities across the spectrum. This will eventually come into deposits and when that happens, a lot of banks will show smaller NIMs going forward. We have to be careful about that. A lot of the small banks have shown some signs of recovery. I am just waiting to see how repricing works for South Indian Bank, J&K Bank, Federal Bank.”

Indian markets are expected to open flat with a negative bias on Tuesday tracking muted global cues. The S&P BSE Sensex rose more than 500 points while Nifty50 reclaimed 17,700 levels on the Muhurat Trading Day.

The S&P BSE Sensex recouped losses in the previous trading session and closed in the green for the fifth consecutive day on Thursday. Nifty50 closed above 17550 levels.