Power Grid: BofA Securities upgrades Power Grid to a buyout

MUMBAI: Bank of America Securities has upgraded to ‘buy’ citing whose defensive features? store and higher Dividend yield. shares of power grid Friday closed 0.3% higher at ₹209.20. Bank of America Securities said, “Given its defensive features led by an assured return-based regulated business model and our cautious outlook on macro volatility, we believe this sharp underperformance is unwarranted.” Evaluation The brokerage said that at two-year forward book value, 1.7x is not more expensive. Bank of America Securities said transmission capex in India is peaking, which could result in power…