Buy Power Grid Corporation of India; target of Rs 244: Khambatta Securities

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Khambatta Securities' research report on Power Grid Corporation of India

Power Grid Corporation of India (PGCIL) reported modest results in 3Q FY22. Total income grew by 3% y-o-y to ₹ 10,447 crores. Transmission, Consultancy and Telecom income registered a growth of 3%, 40% and -13% y-o-y, respectively during the quarter. EBIT was flattish at ₹ 6,108 crores vs ₹ 6,058 crores reported in the same quarter last year. PAT registering a de-growth of 2.2% y-o-y and 2.5% q-o-q to ₹ 3,293 crores in 3Q FY22 as the company reported lower surcharge income, interest income from subsidiaries and JVs, and dividend from subsidiaries. 9M FY22 PAT (ex-exceptional items) grew by 49% y-o-y.

Outlook

We maintain a BUY on PGCIL at 10x FY24E EPS at ₹ 244 with a 24% upside from current levels.

More Info on Trent

At 13:54 hrs Power Grid Corporation of India was quoting at Rs 196.95, up Rs 0.70, or 0.36 percent.

It has touched an intraday high of Rs 198.85 and an intraday low of Rs 196.00.

It was trading with volumes of 515,061 shares, compared to its thirty day average of 700,021 shares, a decrease of -26.42 percent.

In the previous trading session, the share closed down 3.52 percent or Rs 7.15 at Rs 196.25.

The share touched its 52-week high Rs 220.85 and 52-week low Rs 148.88 on 27 January, 2022 and 12 April, 2021, respectively.

Currently, it is trading 10.82 percent below its 52-week high and 32.29 percent above its 52-week low.

Market capitalisation stands at Rs 137,381.54 crore.

 For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More