Goldman upgrades India's Power Grid to 'buy' from 'sell'

Cites inexpensive valuations for the upgrade

Goldman Sachs upgraded India's Power Grid Corporation to "buy" from "sell", citing inexpensive valuations.

The investment bank sees higher visibility for the company on execution of projects worth $20 billion in the next 5 years, while also benefiting from the $100 billion capex that may arise from transmission and distribution of power, for the 12th and 13th five-year plan.