Prefer Power Grid: Mahantesh Sabarad

Mahantesh Sabarad, Deputy Vice President - Research at SBI Capital Securities told CNBC-TV18, "We have a buy on Power Grid outstanding but then we are rethinking our estimates at this juncture, so we will come out with some reinitiating kind of note. However, nevertheless, the business model is pretty much simple out there. The more the power sector grows, more is the transmission requirement; more is what the Power Grid will end up doing in terms of its capex. So, steady business is likely to happen, so, this will be a perennial kind of favourite company."At 13:17 hrs Power Grid Corporation of India was quoting at Rs 136.35, up Rs 3.00, or 2.25 percent. It has touched an intraday high of Rs 137.10 and an intraday low of Rs 133.50.