Buy Power Grid Corporation of India, target price Rs 425: Motilal Oswal

Motilal Oswal has buy call on Power Grid Corporation of India with a target price of Rs 425. The current market price of Power Grid Corporation of India is Rs 345.4.

Power Grid Corporation of India Ltd., incorporated in the year 1989, is a Large Cap company (having a market cap of Rs 319801.26 Crore) operating in Power sector.

Power Grid Corporation of India Ltd. key Products/Revenue Segments include Transmission Revenue, Other Operating Revenue, Consultancy Income for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 11279.59 Crore, down -8.34 % from last quarter Total Income of Rs 12305.39 Crore and up .20 % from last year same quarter Total Income of Rs 11257.60 Crore. Company reported net profit after tax of Rs 3694.90 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 51.34 per cent stake in the company as of 30-Jun-2024, while FIIs owned 28.73 per cent, DIIs 16.27 per cent.