04-Nov-2026 08:35:08

JEFFERIES ON POWER GRID ; BUY | TARGET CUT TO ₹300 FROM ₹315

• Raises FY27 capex guidance to ₹37,000–40,000 Cr. • Cuts FY27 capitalisation guidance to ₹25,000–30,000 Cr. • Projects worth ₹2.2 lakh Cr under execution provide strong revenue visibility. • Transmission project bidding pipeline remains healthy, supporting future growth. • Right-of-way delays remain a key risk to project execution. • Sustained capex and expected ROE of 16–17% support medium-term outlook.

POWER GRID CORP. LTD.

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