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This large-cap utility is ripe for bargain-hunting

Higher cash flows, asset monetisation and expected recovery in the consultancy and telecom business should lead to better earnings for Power Grid

October 09, 2020 / 07:42 PM IST
This large-cap utility is ripe for bargain-hunting

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PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Recovery in power sector better than expected - Improving capitalisation and contribution from other segment to support growth - Strong pipeline of tariff-based state projects to yield higher returns - Cash flows and earnings to improve with monetization of assets - Valuations at historic low offering strong dividend yield Unlike the initial expectations of a 8-10 percent drop in overall power demand in fiscal 2021 due to the Covid-19 pandemic, power demand has seen a swift recovery in the second quarter of the...

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