Buy Power Grid Corp: Motilal Oswal - Moneycontrol.com -

Buy Power Grid Corp: Motilal Oswal - Moneycontrol.com -: "Motilal Oswal is bullish on Power Grid Corp and has recommended buy rating on the stock, in its August 17, 2010 research report.

“Power Grid Corp has planned capital expenditure of ~Rs 129 billion (versus Rs 105 billion in FY10), up 23% YoY. Management informed that the total equity funding requirement for the 11th plan project stands at Rs 160 billion , of which Rs 130 billion would be funded through internal accruals. Thus, there is a funding shortfall of Rs 30-35 billion as equity contribution towards 11th plan project. The Board of PGCIL has approved follow on public offer (FPO) of 20% of existing paid up share capital comprising fresh issue of 10% of existing paid up share capital and offer for sale (disinvestment) of 10%, approved by Cabinet Committee on Economic Affairs (CCEA).'"

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