Oct 10, 2017 11:38 AM IST | Source: Moneycontrol.com
Citi maintains buy on Power Grid, target Rs 242; to report net profit of Rs 2130cr in Q2FY18
The company management has guided capex of Rs 25000 crore and capitalization of Rs 30000-35000 crore in FY18.
Moneycontrol News
Brokerage house Citi has maintained buy rating on Power Grid Corporation of India with a revised price target of Rs 242 from Rs 253 per share.
The company is likely to report net profit of Rs 2130 crore in Q2FY18, up 14 percent, Y-o-Y, said Citi.
The ordering decline of 73 percent in the H1FY18 is not a short or medium term concern.
The company management has guided capex of Rs 25000 crore and capitalization of Rs 30000-35000 crore in FY18, added Citi.
At 11:23 hrs Power Grid Corporation of India was quoting at Rs 202.80, up Rs 1.45, or 0.72 percent on the BSE.
The share touched its 52-week high Rs 226.40 and 52-week low Rs 181.35 on 08 August, 2017 and 09 November, 2016, respectively.
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