Business
India's Power Grid, CESC gain; Antique sees strong growth prospects
India's Power Grid, CESC gain; Antique sees strong growth prospects
About this update from Cesc Ltd
** Power Grid NSE:POWERGRID, CESC NSE:CESC rise 2.5% and 1.3%, respectively** Antique Stock Broking analysts Vishal Periwal, Shubham Shelar highlight stocks as key beneficiaries of strong demand growth over next four months** Say power demand subdued in June quarter due to early and heavy monsoon; however, output up 3% in July and 4% in August** Add valuations in power sector corrected sharply, creating attractive entry points** Brokerage reiterates constructive view on sector, naming PGRD its top large-cap pick, backed by rising capex, higher capitalisation** Prefers CESC in mid-caps, forecasting double-digit PAT growth from expanding renewables portfolio** Rates both "buy"** YTD, PGRD and CESC fall 9.35% and 16.1%, respectively