Power Grid Corporation of India (PGCIL) hit a record high of Rs 196, up 4% on the BSE in an otherwise range bound market.<\/p>\n
Post July-September 2016 (Q2FY17), the stock outperformed the market by surging 11% from Rs 177 on November 8, as compared to 4.7% decline in the S&P BSE Sensex.<\/p>\n
The state-owned power utilities company posted 32% year on year (YoY) jump in net profit at Rs 1,872 crore for Q2FY17, on back of strong operational income. Total income increased 30% to Rs 6,480 crore on YoY basis.<\/p>\n
EBITDA (earnings before interest, taxes, depreciation and amortization) margin improved to 89.87% from 88.82%. Staff cost grew just 5.4% in Q2FY17, driving the margin improvement.<\/p>\n
The company said it got the consultancy for electrification works for 761 route kms from Ministry of Railways.<\/p>\n
JP Morgan maintains \u2018overweight\u2019 rating on the stock with target price of Rs 200.<\/p>\n
\u201cAnother good quarter for PGCIL supports our view that the stock deserves a premium for predictability,\u201d the foreign brokerage said in a report.<\/p>\n
Elara Capital also reiterates \u2018Accumulate\u2019 rating on the stock and raise target price to Rs 200.<\/p>\n
\u201cWe have increased our EPS by 2% each in FY17E and FY18E on higher incentive, higher consultancy & telecom revenue, partly offset by lower capitalization,\u201d the brokerage firm said in a Q2 results update.<\/p>\n
At 03:16 pm, the stock was up 2.7% at Rs 193 on BSE as compared to 0.31% fall in the S&P BSE Sensex. A combined 5.3 million shares changed hands on the counter on BSE and NSE so far.<\/p>\n","protected":false},"excerpt":{"rendered":"
Power Grid Corporation of India (PGCIL) hit a record high of Rs 196, up 4% on the BSE in an otherwise range bound market. Post July-September 2016 (Q2FY17), the stock outperformed the market by surging 11% from Rs 177 on November 8, as compared to 4.7% decline in the S&P BSE Sensex. The state-owned power utilities company posted 32% year on year (YoY) jump in net profit at Rs 1,872 crore for Q2FY17, on back of strong operational income. Total income increased 30% to Rs 6,480 crore on YoY basis. EBITDA (earnings before interest, taxes, depreciation and amortization) margin improved […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-90920","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/90920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=90920"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/90920\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=90920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=90920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=90920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}