Ritika
The shares of a government company related to the ability trade can see a superb rise. This company is Power Grid Corporation of India Limited (PGCIL). Foreign brokerage home Jefferies is bullish on the shares of Maharatna Company. Jefferies has given a goal value of Rs 260 for the shares of Power Grid Corporation, which would be the new excessive for the company’s shares. The shares of the state-owned company closed at Rs 202.60, down 8% on the Bombay Stock Exchange on Friday, September 23, 2022.
Company’s shares are down 19% from 52-week excessive
“Media reports indicate that the power ministry is in talks with Power Grid Corporation to buy PFC’s 52.63 per cent stake in REC (for Rs 144 billion),” brokerage home Jefferies mentioned in a notice. PFC can use the proceeds from the sale of REC’s stake to finance energy initiatives. Power Grid Corporation has sufficient money. We stay optimistic on one 12 months extra media time period transmission spend progress story. Shares of Power Grid Corporation had reached a 52-week excessive of Rs 248.25 on 10 May 2022. At the identical time, the 52-week low of the company’s shares is Rs 175.10. The company’s shares are presently down about 19 per cent from their 52-week excessive and 16 per cent above their 52-week low.
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Leadership place with glorious observe document
Brokerage home Jefferies mentioned within the notice that Power Grid Corporation of India (PGCIL) has a superb observe document and management place in transmission regardless of competitors from non-public gamers since 2013. NTPC has invested in fertilizers exterior the core sector through the years as per the rules of the ministry. But, PGCIL has thus far stayed away from it. If steak is bought, it would have a big impact. Shares of Power Grid Corporation have given great returns within the final 2 years. The shares of the company have been at a degree of Rs 118.43 on 9 October 2020. The shares of Maharatna Company closed at Rs 202.60 on 23 September 2022.
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