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Goldman Sachs upgrades Power Grid Corp to 'buy'

By Religare
Goldman Sachs upgrades Power Grid Corp to 'buy'
Investment bank, Goldman Sachs has upgraded electric utilities giant, Power Grid Corporation of India from 'sell' to 'buy', citing inexpensive valuations.

Moreover, the investment bank also sees improved visibility for the company on execution of projects worth USD 20 billion in the next 5 years.

The Indian power giant is also likely to be benefitted by the USD 100 billion capex, which might arise from transmission and distribution of power, for the 12th and 13th five-year plan, the bank said.

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