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Positive News in the Stock Market: Power Grid’s Rise and Coal India’s Potential Growth

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Today in the stock market, there’s some exciting news about Power Grid Corporation, a company that deals with electricity transmission. Bernstein, a foreign company that analyzes stocks, has just started covering Power Grid. They think it’s a good investment and have given it a rating of ‘outperform’. They also set a target price of Rs 315, which is higher than what the stock market was worth on Monday. This means they believe the stock will go up by about 13.9%.

Why are they so positive about Power Grid? According to Bernstein:

  1. Power Grid is planning to spend 30% more on investments in the next two years.
  2. They’re looking to grow in areas like transmitting electricity between states, using batteries, and installing smart meters.
  3. Power Grid is considered a safe investment because it has a good Return on Equity (ROE) of 18%, and its profits (PAT) are growing by 8%.
  4. They also make steady money from their existing projects.

Power Grid’s stock price went up by 4.4% today, reaching Rs 288.6 on the Bombay Stock Exchange (BSE). It’s almost reached its highest price ever, which was Rs 289.5 in February.

Another interesting stock to watch is Coal India. Some analysts think it’s a good investment too. CLSA, another foreign company, has raised its target price for Coal India to Rs 480 from Rs 330. They believe Coal India will sell more coal and improve its product range, which could increase its profits.

Coal India’s management also mentioned that they expect the prices they get for their coal to stabilize after a period of change.

So, if you’re into investing, these are two stocks recommended by chatora worth keeping an eye on!

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