Time period given by analyst is one year when Power Grid Corporation of India Ltd. price can reach defined target.
Power Grid Corporation of India Ltd., incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 134556.49 Crore) operating in Power sector.
Power Grid Corporation of India Ltd. key Products/Revenue Segments include Transmission Revenue, Other Operating Revenue, Income From Telecom and Consultancy Income for the year ending 31-Mar-2020.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 10514.74 Crore, up 1.18 % from last quarter Total Income of Rs 10391.61 Crore and up 6.95 % from last year same quarter Total Income of Rs 9831.00 Crore. Company reported net profit after tax of Rs 3347.87 Crore in latest quarter.
Investment Rationale
Transmission business will continue to perform well in the coming quarters with the jumpstart in economic activities. Company has several ongoing projects progressing in a timely manner, as it continues to be the fastest growing utility in Asia. Foraying into the lucrative data center and energy storage businesses can open up further growth avenues for the company in the long-term. Maintaining a positive outlook, the brokerage reiterates BUY rating on the stock with a revised TP of Rs. 212 based on 1.7x FY23E BVPS
Promoter/FII Holdings
Promoters held 51.34 per cent stake in the company as of 30-Sep-2021, while FIIs owned 27.91 per cent, DIIs 8.34 per cent.
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