External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Equity Bottom-Up

Power Grid Corporation Of India / Equity Bottom-Up

<p>It bagged INR90-100b in awards in recent months, which is a positive sign, given a declining order book. Nevertheless, the capex trajectory is on a decline. With proceeds from InvIT, we see strong scope for higher dividends. Valuations at 1.6x FY22E P/BV and 7-8% dividend yield remains attractive for a company with steady RoEs of 17-18%. We maintain our Buy...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

It bagged INR90-100b in awards in recent months, which is a positive sign, given a declining order book. Nevertheless, the capex trajectory is on a decline. With proceeds from InvIT, we see strong scope for higher dividends. Valuations at 1.6x FY22E P/BV and 7-8% dividend yield remains attractive for a company with steady RoEs of 17-18%. We maintain our Buy...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

<p>PSP Projects: PSP Projects (PSP) reported revenue/EBITDA/APAT at INR 5/0.6/0.4bn for the quarter, largely in line with our estimate. The company witnessed turnaround in terms of order inflow as it bagged projects worth INR 22bn during the quarter. With that, the order book stood at INR 41bn at the end of FY21. PSP has guided for INR 20/18bn inflow/revenue and 11-12% EBITDA margin for FY22. As the Surat Diamond Bourse (SDB) project is coming to an end, PSP would qualify for the larger projects, leading to rerating of the stock.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

PSP Projects: PSP Projects (PSP) reported revenue/EBITDA/APAT at INR 5/0.6/0.4bn for the quarter, largely in line with our estimate. The company witnessed turnaround in terms of order inflow as it bagged projects worth INR 22bn during the quarter. With that, the order book stood at INR 41bn at the end of FY21. PSP has guided for INR 20/18bn inflow/revenue and 11-12% EBITDA margin for FY22. As the Surat Diamond Bourse (SDB) project is coming to an end, PSP would qualify for the larger projects, leading to rerating of the stock.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Power Grid Corporation of India, Indostar Capital Finance, PSP Projects

India

Power Grid Corporation of India Limited has been established by the Government of India as the central transmission utility of India. The mandate for the corporation is establishment and operation of EHV. AC & HVDC transmission lines, sub-stations, load dispatch centers and communications facilities throughout India.

Power Grid Corporation Of India (PWGR IN)

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Power Grid Corporation Of India (PWGR IN)

Profit aided by other income

It bagged INR90-100b in awards in recent months, which is a positive sign, given a declining order book. Nevertheless, the capex trajectory is on a...

Motilal Oswal

HSIE Results Daily: Power Grid Corporation of India, Indostar Capital Finance, PSP Projects

PSP Projects: PSP Projects (PSP) reported revenue/EBITDA/APAT at INR 5/0.6/0.4bn for the quarter, largely in line with our estimate. The company...

HDFC Securities

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