Power Grid Corporation of India
India’s principal power transmission company, Power Grid Corporation of India will list on the bourses with public issue shares on Friday, October 5, 2007.
Analysts told Moneycontrol.com that the stock may list above Rs 85 and advised to hold the stock for short term.
S P Tulsian of sptulsian.com said, "Power Grid Corporation is likely to list at Rs 85 on Friday. Buying is advised below Rs 80, while allottees are advised to hold the stock for 2-3 months."
According to R S Iyer of KR Choksey Securities, "The stock is expected to list at around Rs 85-90. It also could see three digit mark on the back of huge buying for long term. But for the time being, investors, who got allotment, can book profits above Rs 95."
"Power Grid may open at around Rs 82 and advised to hold for long term. It looks attractive with short to long term perspective as there is no major competitor to the company", said Manish Bhatt of Prabhudas Lilladher.
Arpit Agrawal, Head of Research, Arihant Capital Markets said, "Keeping in mind PGCIL’s monopoly in the transmission segments and the strong growth prospects, we believe investors should be invested in the company with a long term perspective."
The company has fixed the issue price at Rs 52 (the upper end of the price band of Rs 44-52) for its initial public offering (IPO) of 573,932,895 equity shares of Rs 10 each for cash at a price that was decided through a 100% book building process.
The share also will start trading in F&O segment with lot size of 3850 shares. The issue was subscribed 64.82 times.
Power Grid Corporation of India owns and operates most of India’s interstate and inter-regional electric power transmission system.PGCI
Source : Moneycontrol
Analysts told Moneycontrol.com that the stock may list above Rs 85 and advised to hold the stock for short term.
S P Tulsian of sptulsian.com said, "Power Grid Corporation is likely to list at Rs 85 on Friday. Buying is advised below Rs 80, while allottees are advised to hold the stock for 2-3 months."
According to R S Iyer of KR Choksey Securities, "The stock is expected to list at around Rs 85-90. It also could see three digit mark on the back of huge buying for long term. But for the time being, investors, who got allotment, can book profits above Rs 95."
"Power Grid may open at around Rs 82 and advised to hold for long term. It looks attractive with short to long term perspective as there is no major competitor to the company", said Manish Bhatt of Prabhudas Lilladher.
Arpit Agrawal, Head of Research, Arihant Capital Markets said, "Keeping in mind PGCIL’s monopoly in the transmission segments and the strong growth prospects, we believe investors should be invested in the company with a long term perspective."
The company has fixed the issue price at Rs 52 (the upper end of the price band of Rs 44-52) for its initial public offering (IPO) of 573,932,895 equity shares of Rs 10 each for cash at a price that was decided through a 100% book building process.
The share also will start trading in F&O segment with lot size of 3850 shares. The issue was subscribed 64.82 times.
Power Grid Corporation of India owns and operates most of India’s interstate and inter-regional electric power transmission system.PGCI
Source : Moneycontrol
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