Gold Silver Reports (GSR) – Power Grid Gains On Heavy Volumes — Power Grid Gains On Heavy Volumes – Shares of the state-run central transmission utility of India rose as much as 3.9 percent, most in six months, to Rs 207.1, extending a three-day gaining period. Trading volume of the stock was 11 times the 20-day average. It was the top gainer on the S&P BSE Power Index.
The stock is 14 percent below the Bloomberg consensus one-year target price while the analyst consensus rating is equivalent to ‘buy’. Around 83 percent of the analysts covering Power Grid Corporation of India Ltd. have a ‘buy’rating on the stock, 14 percent have ‘hold’, and the rest recommend ‘sell’. The stock has returned 2.2 percent so far this year as compared to 5.9 percent decline in the power index.
