This state-owned stock reaches a new all-time high today; Increases 18% in 3 weeks

By Malvika Gurung – Shares of the state-owned power utility Power Grid (NS 🙂 Corporation of India rose 3.31% to a new all-time high of Rs 214.05 at 12:45 on Thursday. Actions reached new highs over a lifetime at regular intervals.

The market capitalization shares of 1.49 lakh crore have a robust project of 27.5 million lei, which offers a strong profit prospect for the company in the next 2-3 years. It also capitalized an approximate amount of 22,932 million lei in the last four quarters.

Power Grid Corp. has gained 18% in the last three weeks, much earlier, it has fallen by almost 2% during this time. It put the entire 6,000 MW HVDC Raigarh-Pugalur system into operation on October 25, according to a Business Standard report.

For the end-September quarter, the state-owned company recorded a stand-alone PAT of Rs 3,338 million, up 7% from last year, while the capitalization of consolidated assets for the quarter rose sharply by 35.3 %, up to Rs 7,633 million.

Sharekhan’s internal brokerage has a “Buy” rating on Power Grid shares with a target price of Rs 217 / share. According to the report, the report estimates the company’s PAT CAGR of 12% to FY24 and the return on equity (ROE) of almost 19.3% to FY24.