Buy Power Grid, target price Rs 222: Motilal Oswal

Motilal Oswal has buy call on Power Grid Corporation of India with a target price of Rs 222. The current market price of Power Grid Corporation of India Ltd. is Rs 194.25.

Power Grid Corporation of India Ltd., incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 101440.52 Crore) operating in Power sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 9529.68 Crore, up .76 % from last quarter Sales of Rs 9457.40 Crore and up 5.29 % from last year same quarter Sales of Rs 9051.29 Crore. Company reported net profit after tax of Rs 3037.62 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 51.3 per cent stake in the company as of Sept 30, 2020, while FIIs held 26 per cent, DIIs 16.1 per cent and public and others 6.6 per cent.