Highlights

• Broker consensus stands at Buy, with an average target price of ₹310.36.
• Target prices across major brokerages range between ₹285 and ₹356.
• Power Grid reported ₹3.04 trillion in gross fixed assets on a consolidated basis as of 9MFY26.

Power Grid Corporation of India Ltd (NSE:POWERGRID) remained in focus on Monday after the stock jumped 4.01% to ₹281.25 per share during morning trading hours. With this, in the past five days, share price has jumped almost 9.22%.

The stock has drawn a wide range of opinions from brokerages, with the stock receiving the full spectrum of ratings—from Buy and Add to Hold and Sell. While several analysts remain positive on the company’s long-term outlook and ongoing project pipeline, others have adopted a more cautious stance, citing valuation considerations and near-term triggers. This mix of views places Power Grid among actively tracked stocks where broker sentiment remains divided

Broker Ratings and Target Price Outlook

As per the Refinitiv data, the overall consensus recommendation stands at Buy, supported by an average target price of ₹310.36.

Brokerages such as Elara Securities, Axis Capital, Jefferies, and JM Financial have reiterated Buy and Add ratings on the stock. Their target prices range from ₹294 to ₹356.

In contrast, a limited number of brokerages, including Investec and Ambit Capital, maintain Hold or Sell ratings. These firms have set target prices in the range of ₹285 to ₹307.

Business Expansion and Strategic Developments

As per the investor’s presentation, released on 2 February, the company’s gross fixed assets have crossed ₹3 trillion, underscoring its position as India’s national transmission backbone.

Internationally, Power Grid has entered partnerships for expansion into overseas markets, including collaboration with Africa50, marking a step into cross-border infrastructure participation. Domestically, the company has secured its first Battery Energy Storage System (BESS) project under the Build-Own-Operate (BOO) model, signaling entry into grid-scale energy storage.

The company has also commissioned Asia’s first transformer using synthetic ester oil, while renewable energy now accounts for 50% of total power consumption, aligning operations with evolving energy transition requirements.

Financial Snapshot and Capex Status

For 9MFY26 on a consolidated basis, Power Grid reported net worth of ₹98,906 crore, total income of ₹35,714 crore, EBITDA of ₹29,846 crore, and profit after tax of ₹11,382 crore. Gross fixed assets stood at ₹3,04,336 crore, with a debt-to-equity ratio of 59:41.

The company indicated that FY26 capital expenditure and capitalization plans remain on track, with management commentary suggesting the potential to exceed annual guidance.

Power Grid Corporation of India continues to attract analyst attention amid ongoing infrastructure additions, entry into new business segments, and execution of planned capital expenditure. With most brokerages maintaining Buy-oriented recommendations and a wide range of target prices, the stock remains closely tracked as developments unfold across domestic and international operations.

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