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Buy Power Grid; target of Rs 220: ICICI Direct

ICICI Direct is bullish on Power Grid has recommended buy rating on the stock with a target price of Rs 220 in its research report dated November 10, 2021.

November 11, 2021 / 11:36 IST
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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

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Outlook

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