On Tuesday, people will be talking about Power Grid Corporation of India. This state-run company has won a big bidding process to improve India’s power transmission system. They will work on two large projects to upgrade substations in Gujarat and Karnataka.
The first project will increase the capacity at two substations in Gujarat. The second project will enhance the capacity at a substation in Karnataka by adding powerful transformers. These projects will help deliver electricity better and more reliably.
Power Grid received the official letter for these projects on January 6, 2025. This is a part of their plan to make India’s power infrastructure stronger.
In the second quarter of FY25, Power Grid reported a steady profit of ₹3,793 crore, which is similar to last year’s ₹3,781 crore. Their revenue also stayed about the same at ₹11,278 crore, compared to ₹11,267 crore a year ago.
As for the stock, 13 out of 23 analysts say you should buy Power Grid shares, with some recommending to hold, and a few suggesting to sell. The average target price for these shares is ₹342, suggesting they could go up 12% from their current price.
On Monday, Power Grid shares ended the day at ₹306, down 3.2%, while the Sensex index fell too. The stock is down 10% in the last six months but has risen by 96% over the past two years. The company is valued at ₹2,84,644 crore.
Note: The opinions of experts do not reflect those of NiftyStat.
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