Power Grid has target of Rs 108: Thununguntla

Power Grid has target of Rs 108, says Jagannadham Thununguntla, Head of Research, SMC Global.

Thununguntla told CNBC-TV18, "Power Grid has target of Rs 108. The company has posted 22% profit growth as well as it is trying to use its infrastructure expansion into the telecom business as well."
The company's trailing 12-month (TTM) EPS was at Rs 5.38 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 19.80. The latest book value of the company is Rs 35.02 per share. At current value, the price-to-book value of the company was 3.04. The dividend yield of the company was 1.41%.