Power Grid shares jump 6%. Here are 2 triggers
The company reported a PAT of Rs 4,028 crore for the quarter ended December 2023, which was up 6.5% as compared to the previous quarter. The EBIT growth was also 8% up while the expenses had decreased by nearly 6% for the same period.
’s shares rallied 5.5% to Rs 289 on BSE in Thursday's trade after the company informed the exchanges that the committee of directors approved issuing bonds of up to Rs 12,000 crore during FY 2024-25.Goldman Sachs remains positive on the stock while initiating coverage to buy the stock with a target price of Rs 355, signaling an upside potential of 29% from Wednesday's closing price.
The fundraise is expected to be carried out through bonds such as unsecured, non-convertible, non-cumulative, redeemable and taxable POWERGRID Bonds Issue.
has given 65% returns to the investors in the past 1 year while 22% returns have been reaped in the past 3 months alone.
Also read:
The company reported a PAT of Rs 4,028 crore for the quarter ended December 2023, which was up 6.5% as compared to the previous quarter. The EBIT growth was also 8% up while the expenses had decreased by nearly 6% for the same period.
The PSU has also been declared as a successful bidder in tariff-based competitive bidding for establishing inter-state transmission systems in Rajasthan and Gujarat. These projects will be executed on a build, own, operate, and transfer (BOOT) basis.
They will handle evacuating power from specific areas in these regions. Additionally, they received Letters of Intent for similar projects in the same regions.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Source: Stocks-Markets-Economic Times
