Power Grid shares surge 4.5% on Goldman Sachs positive outlook
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Shares of Power Grid surged by 4.5% on the BSE to a new all-time high of Rs 366.20 after the global brokerage firm Goldman Sachs showed its optimism about the stock, setting a target price of Rs 370 with a buy rating.The government has upgraded the transmission capex estimate to $110 billion. An 8%+ transformation capacity CAGR is projected for the company, with GH2 and PSP integration also considered, according to Goldman Sachs. The firm expects Power Grid to be the largest beneficiary of the $500 billion+ grid TAM estimate between FY24 and FY50. On Tuesday, the stock had witnessed a rally after the company announced that it emerged as the successful bidder to establish an inter-state transmission system in Khavda village of Gujarat. The project involves installation of STATCOMs at Khavda Pooling Station 1 (KPS1) and Khavda Pooling Station 3 (KPS3) along with associated bays extension work and will be carried out on a build, own, operate...