Power sector InvIT, IndiGrid’s recent performance has got a thumbs up from analyst firms.
Equity research and brokerage house firm Edelweiss Securities has given a ‘buy’ rating for IndiGrid. This comes in the wake of a transmission asset acquisition coupled with strong FY20 performance. “We reaffirm confidence in IndiGrid’s business model, which is backed by predictable cash flow, strong growth visibility and attractive 11.4 per cent investment return at the current price,” noted Edelweiss. The brokerage firm has a ‘buy’ rating with a target price of ₹115. IndiGrid shares were trading at ₹100.25, down 1.28 per cent.
IndiGrid has ₹300 crore in cash reserves and since the last 3 years has tripled its Assets Under Management (AUM) from around ₹3,700 crore to ₹12,000 crore.
