Power Grid Corporation of India, leading power transmission company in India, Power Grid Corporation of India witnessed a sharp fall in share price on Tuesday after the Reserve Bank of India (RBI) said that the foreign shareholding through Foreign Institutional Investors (FIIs) and Registered Foreign Portfolios Investors (RFPIs) in the company has reached the trigger limit.
Therefore, further purchases of equity shares of this bank would be allowed only after obtaining prior approval of the Reserve Bank of India.
Shares of the company are trading at Rs 137.25, down Rs 4.9, or 3.45% at the Bombay Stock Exchange (BSE) on Tuesday at 12:16 p.m. The scrip has touched an intra-day high of Rs 142 and low of Rs 136.05. The total volume of shares traded at the BSE is 189,895.