Buy Power Grid Corporation of India, target price Rs 236: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Power Grid Corporation of India with a target price of Rs 236.
The current market price of Power Grid Corporation of India Ltd. is Rs 224.95. Time period given by analyst is Intra Day when Power Grid Corporation of India Ltd. price can reach defined target.

Power Grid Corporation of India Ltd., incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 156982.57 Crore) operating in Power sector.


Power Grid Corporation of India Ltd. key Products/Revenue Segments include Transmission Revenue, Income From Telecom, Consultancy Income and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 10723.61 Crore, up 1.99 % from last quarter Total Income of Rs 10514.74 Crore and up 3.51 % from last year same quarter Total Income of Rs 10359.48 Crore. Company reported net profit after tax of Rs 3309.59 Crore in latest quarter.


Investment Rationale
Stock has given a price volume breakout, and has been making higher lows on daily frame.

Promoter/FII Holdings
Promoters held 51.34 per cent stake in the company as of 31-Dec-2021, while FIIs owned 28.19 per cent, DIIs 8.41 per cent.