Power Grid Corporation Of India - Opportunities On The Horizon: ICICI Securities Re-Initiates Coverage
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ICICI Securities Report
Power Grid Corporation of India Ltd. is geared up to benefit from the upcoming auctions in the transmission space.
Over FY22-26, we expect Power Grid to incur a capex of Rs 516 billion and commission assets worth Rs 765 billion, taking its gross block from Rs 2.4 trillion in FY21 to Rs 2.8 trillion in FY24 and Rs 3.2 trillion in FY26.
With Powergrid Infrastructure Investment Trust now listed, a ready monetisation vehicle is available to the company for its operational tariff based competitive bidding assets.
This results in freeing up of capital as well as lower debt in its books, a good combination for future capex and growth.
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