ICICI Direct has given Buy recommendation for Power Grid with a target price of Rs. 220 in its research report issued on Nov 10, 2021

ICICI Direct’s research report on Power Grid

Power Grid is India’s largest power transmission utility with transmission lines of 170724 ckt km and 454350 MVA of transformation capacity. Power Grid transmits about 50% of total power generated in India to its transmission network It also undertakes transmission related consultancy to more than 150 domestic clients and owns and operates 71673 km of telecom network

Outlook

Maintain BUY rating on the stock We value the stock at Rs 220 i.e. 1.9x FY23E book value.

 

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