Buy Power Grid Corp; target of Rs 123: Motilal Oswal - Moneycontrol.com -

Motilal Oswal is bullish on Power Grid Corporation of India and has recommended buy rating on the stock with a target of Rs 123 in its September 17, 2010 research report.

“Power Grid Corporation of India (PGCIL) to achieve the capex of Rs 550 billion targeted under the Eleventh Plan, despite meaningful delays in generation capacity additions, given the incremental capex towards HSTCs. PGCIL has regulated asset base (RAB) to increase from Rs 94 billion as at March 2010 to Rs 140 billion by FY12 (up 50%), with projects of ~Rs 200 billion being commissioned and capitalized in this period.”

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