Wednesday 12 November 2008

Hold Power Grid, target of Rs 86: KRChoksey

KRChoksey Research has recommended a hold rating on Power Grid Corporation of India with a target price of Rs 86 in its November 5, 2008 research report. "Net Sales of the company during the quarter increased by 51.0% to Rs 1,587.7 crore against Rs 1,051.2 crore in the corresponding previous quarter on back of superior performance by its transmission segment (contributed 91.3% to Net Sales) due to commissioning of new transmission assets. On back of huge transmission investments in INDIA, expansion plans and additional revenues from telecom business segment, we recommend to HOLD the stock with target price of Rs 86," says KRChoksey's research report.

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Source: Moneycontrol

Posted by Harsh at 09:22

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