I got a solution for my problem... following is the code for that. In the following code the important thing is we have to set the property of the column as
HtmlEncode="False"
<asp:GridView ID="GridView1" Width="900px" runat="server" BackColor="#CCCCCC" BorderColor="#999999" BorderStyle="Solid" BorderWidth="3px" CellPadding="4" CellSpacing="2" ForeColor="Black" AutoGenerateColumns="False">
<FooterStyle BackColor="#CCCCCC" />
<RowStyle BackColor="White" />
<SelectedRowStyle BackColor="#000099" Font-Bold="True" ForeColor="White" />
<PagerStyle BackColor="#CCCCCC" ForeColor="Black" HorizontalAlign="Left" />
<HeaderStyle BackColor="Black" Font-Bold="True" ForeColor="White" />
<Columns>
<asp:BoundField DataField="Machineid" HeaderText="Machineid" HtmlEncode="False" ItemStyle-Width="250px" />
<asp:BoundField DataField="Status" HeaderText="Status" HtmlEncode="False" ItemStyle-Width="650px"/>
</Columns>
</asp:GridView>