External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

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External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Power Grid Corporation Of India / Equity Bottom-Up

Power Grid Corporation Of India (PWGR IN)

<ul><li>Power Grid has continued its momentum in project wins; it won bids for transmission projects worth INR 190bn in Q3FY25. In 9MFY25/ FY24, it won INR 760bn/ INR 500bn worth of new projects, respectively.</li><li>Its market share in new project wins was over 50% in FY24/ 9MFY25. Its order backlog (or work in hand) has increased to INR 1.5trn (~1.8x YoY).</li><li>Barring HVDC projects, all projects (worth INR 1.1trn) are likely to commission in the next three years.</li></ul><p><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></p>

Power Grid has continued its momentum in project wins; it won bids for transmission projects worth INR 190bn in Q3FY25. In 9MFY25/ FY24, it won INR 760bn/ INR 500bn worth of new projects, respectively.Its market share in new project wins was over 50% in FY24/ 9MFY25. Its order backlog (or work in hand) has increased to INR 1.5trn (~1.8x YoY).Barring HVDC projects, all projects (worth INR 1.1trn) are likely to commission in the next three years.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.

Power Grid Corporation of India - Strong Momentum in Project Wins Continues