Technical Analyst Sharad Avasthi of SKP Securities has maintained 'hold' rating on Power Grid Corp.

According to analyst, the investors can exit on rally to around Rs 50.

Today, the stock of the company opened at Rs 103.60 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 128.35 and a low of Rs 95 on BSE.

Current EPS & P/E ratio stood at 5.08 and 20.43 respectively.

State-run Power Grid Corporation has recorded a growth of 20.72% in its net profit, which stood at Rs 2,040.94 crore during the year ended March 31, 2010.

The company made a net profit of Rs 1,690.61 crore in the previous fiscal, Power Grid Corporation said in a filing with the National Stock Exchange (NSE).

Net sales of the company surged to Rs 7,127.45 crore in the same period.

Power Grid Corporation is well entrenched in business sections of transmission, consultancy and telecommunication.

Moreover, the company owns about 71,500 circuit kms of transmission network and 120 numbers of extra high-voltage alternating current (EHVAC) and high-voltage direct current (HVDC) sub-stations having overall transformation capacitance of 79,500 MVA.

The company has also made it compulsory for abroad equipment suppliers to built factories in India to take part in its tenders.

The move may intensify Sino-Indian pressures over the supply of equipment.