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You are here : IndiaNotes >> Research & Analysis >> Companies >> Power Grid Corporation of India Ltd. >> Research

SMC's top picks which have an upside potential of 25% & 15%

SMC | 17 Nov, 2017  | Follow Author | Add to my Favourites 
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Power Grid Corporation of India


Valuation


With the higher capitalisation in coming years owing to huge capex, steady regulated RoE, we believe that PGCIL’s fundamentals would continue to remain strong aided by least exposure to operational risks. Thus, it is expected that the company would see good growth going forward and the stock will see a price target of Rs.258 in 8 to 10 months time frame on a target average P/E of 15x and FY18 (E) earnings of Rs.17.21.


Company is playing a crucial role in the integration of Renewable Energy Resources with the grid and is undertaking development of Green Energy Corridors as well as transmission schemes for Ultra Mega Solar Parks in a numbers of states. In addition, it is also establishing Renewable Energy Management Centers (REMC) in certain renewable rich states which would facilitate forecasting of renewable resources and efficient management of variable renewable generation ensuring grid stability & security.


Tech Mahindra


Valuation


According to the management, the company would focus on Digital, Domain and Execution to transform it from IT (Information Technologies) to DT (Digital Technologies). It has once again proved that despite the occasional headwinds, geopolitical uncertainties and changing demands, it would rise to grow. With its DAVID (Digitalization, Automation, Verticalization, Innovation, and Disruption) Strategy at play, it has posted reasonably good growth in the quarter across revenue, profit and new business. Thus, it is expected that the stock will see a price target of Rs.564 in 8 to 10 months time frame on a target P/E of 15.34x and FY18 (E) earnings of Rs.36.78.


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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.



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