Buy Power Grid, target of Rs 118: Quant Capital

Abhineet Anand, capital goods analyst at Quant Capital told CNBC-TV18, "Power Grid will be commissioning 70-80 smaller projects. We are positive over longer term. We have a buy rating on the stock with a target price of Rs 118."

He further added, "We believe that in power sector, largecaps are the best stocks to play primarily because the importance of the grid is synchronization and there have been price differential in southern market and new market. So, on the Indian Energy Exchange (IEX) if you look into the price of merchant price then southern market was having a far higher degree of merchant prices. So players in the merchant market, who has been selling in southern market, might see a bit of tapering of these numbers."