Power Grid Corporation of India Ltd saw its shares surge over 4% during Wednesday’s trading session, fueled by positive momentum after Goldman Sachs included the stock in its list of 20 buy-rated picks. Along with Power Grid, Goldman Sachs also highlighted other stocks like Havells India, Polycab, Ashok Leyland, Mahindra & Mahindra, and Phoenix Mills.
In addition to Goldman Sachs, Motilal Oswal has issued a buy call on Power Grid Corporation of India with a target price of ₹425. The stock’s current market price is ₹345.4. Motilal Oswal’s optimism is backed by the company’s strong market presence, with a market cap of ₹3,19,801.26 crore, operating in the power sector.
Goldman Sachs’ India strategy note highlighted that the country’s earnings growth has stabilized after a decade-long downturn, making it one of the fastest-growing economies in the medium term. The report also predicted a shift in India’s profit pool towards investment cyclicals like auto, real estate, chemicals, and industrials, with power and new energy sectors expected to see growth.
As of 9:30 am, Power Grid shares were trading 4.06% higher at ₹364.25 on the NSE.
