CMP : 148
Target Price : 165
For 3QFY2016, Power Grid Corporation of India (PWGR) reported a strong
23% yoy increase in transmission revenues to `5,143cr (5.5% ahead of our
estimate of `4,925cr), on account of higher than expected capitalisation.
Capitalisation for the quarter stood at `17,207cr, led by the commissioning of the
Biswanath Chariyali – Agra HVDC transmi..