India, Nov. 2 -- The Maharatna power transmission company has taken a step to simplify its group structure, with its board clearing the sale of a wholly owned subsidiary to a government entity. The deal carries an upfront payment and a later adjustment, while the company reported higher profit and declared an interim dividend.

The Nifty 50 traded at 23,335 up 1.22%, while the Sensex rose by 1.30% to 75,435 on Monday. Following this, Shares of Power Grid Corporation of India Ltd are trading at Rs. 267.15, up 0.81 percent on Monday. The stock touched the intraday high of Rs. 270.20 after opening at Rs. 266.50 before slipping to a low of Rs. 266.25. The company commands a market capitalization of Rs. 2,48,651.64 crore.

POWERGRID Agrees to...