HDFC Securities is bullish on Power Grid Corporation has recommended buy rating on the stock with a target price of Rs 231 in its research report dated February 11, 2017.
HDFC Securities' research report on Power Grid Corporation
In the environment of falling interest rates, PWGR’s business model becomes all the more compelling. Annual operating cash flows of Rs 250bn and RoE of 17% makes a strong case for premium valuations. Reiterate BUY with TP of Rs 231/sh (2.0x Dec-18 BV).
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