The stock of POWERGRID is trading in up-channel and is near a very strong support Rs 100-105. Buy the stock around current levels or in dips towards Rs 104-108 for short-term target Rs 124-128. 200DMA at Rs 96-97 can be regarded as a stop loss for short-term players.
Possibility of disinvestment announcement in budget can keep this stock buoyant as Government holds higher stakes in Power companies making them preferred choices for disinvestment list and any reforms in power sector can benefit POWERGRID.
About POWERGRID (Source - Company Website) :-
- POWERGRID, a Navratna Public Sector Enterprise, is one of the largest transmission utilities in the world.
- POWERGRID wheels about 45% of the total power generated in the country on its transmission network.
- POWERGRID has a pan India presence with around 71,500 Circuit Kms of Transmission network.
- POWERGRID has also diversified into Telecom business and established a telecom network of more than 20,000 Kms across the country.
- POWERGRID has consistently maintained the transmission system availability over 99% which is at par with the International Utilities.