Motilal Oswal is bullish on Power Grid Corporation has recommended buy rating on the stock with a target price of Rs 238 in its research report dated February 12, 2017.
Motilal Oswal's research report on Power Grid Corporation
We remain bullish on investment in transmission sector due to (1) huge potential for energy demand growth in India (2) rising share of renewables (3) decades of underinvestment in T&D (4) integration of national grid has made low cost energy accessible to everyone (5) potential from SAARC countries. Yet, we are building conservatively 6.3% earnings growth over 10 years after FY22E in DCF value. PWGR has competitive advantage due to strong execution and balance sheet. We re-iterate Buy.
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