Power Grid Corporation of India, a leading power transmission company in India, has incorporated a wholly owned subsidiary company named Grid Conductors on Sept. 15, 2015.

The company's wholly owned subsidiary will manufacture aluminium and aluminium alloy electricity conductors at an estimated cost of Rs. 1.27 billion. 

The stock had underperformed the market over the past one month till Oct. 07, 2015, rising 6.85% compared with the Sensex's 8.60% rise.

It underperformed the market in past one quarter, declining 5.79% as against 4.03% fall in the Sensex.

Shares of the company declined Rs 0.05, or 0.04%, to settle at Rs 132.30. The total volume of shares traded was 41,111 at the BSE (Thursday).