The company made this announcement during trading hours today, 29 June 2012.

Meanwhile, the BSE Sensex up 373.85 points or 2.2% to 17,364.61.

On BSE, 2.04 lakh shares were traded in the counter as against average daily volume of 2.38 lakh shares in the past one quarter.

The stock hit a high of Rs 112.90 and a low of Rs 109.60 so far during the day. The stock had hit a 52-week high of Rs 115.25 on 20 April 2012. The stock had hit a 52-week low of Rs 93.60 on 12 September 2011.

The stock had underperformed the market over the past one month till 28 June 2012, rising 2.91% compared with the Sensex's 3.5% gain. The scrip had, however, outperformed the market in past one quarter, rising 3.2% as against Sensex's 0.76% fall.

The large-cap state-run power transmission firm has an equity capital of Rs 4629.73 crore. Face value per share is Rs 10.

Power Grid Corporation of India's net profit rose 37.4% to Rs 1031.69 crore on 40.3% growth in net sales to Rs 3101.87 crore in Q4 March 2012 over Q4 March 2011.

The state-run Power Grid Corporation of India (PGCIL) was incorporated in 1989 for transmission of electric power across the country. The Government of India (GoI) holds 69.42% stake in PGCIL.