Low PE high ROE stock: This power company has successfully commissioned a project!

The stock has a PE multiple of 9.69 whereas sectoral PE multiple is 22 with an ROE of 19.33 per cent respectively.

Today, shares of Power Grid Corporation of India surged 0.61 per cent to an intraday high of Rs 215.85 per share from its previous closing of Rs 214.55. At 03:30 pm, shares of the company ended the day lower, down 0.37 per cent to Rs 213.75 per share.    

POWERGRID Bhuj Transmission Limited (a wholly owned subsidiary of Power Grid Corporation of India Ltd, secured through Tariff Based Competitive Bidding) with a mandate to establish a transmission system for providing connectivity to RE Projects at BhujII (2000 MW) in Gujarat on Build, Own, Operate and Maintain (BOOM) basis has successfully commissioned the project on 16.11.2022.  

Power Grid Corporation of India Limited is a Maharatna CPSU and India’s largest electric power transmission company. The President of India (Government of India) holds a 51.34 per cent stake in the company as of December 2022. PGCIL was incorporated in 1989 to set up extra-high voltage alternating current and high-voltage direct current (HVDC) transmission lines.  

Talking about the financials, this Large-Cap company has a market capital of Rs 1,49,100 crore. The company reported excellent numbers in both Quarterly Results and annual results. In Q3FY23, net sales rose by 7.80 per cent and net profit rose by 10.69 per cent compared to Q3FY22.   

The stock has a PE multiple of 9.69 whereas sectoral PE multiple is 22 with an ROE of 19.33 per cent respectively. Investors should keep an eye on this PSU stock for upcoming trading sessions.