There is a significant dip in revenues from FY 28 and same is available in the valuation report . Although management confirmed Rs 3 quarterly distribution for current FY but they indicated some dip in next year. Acquisition of balance 25 percent from Power Grid for 4 balance assets is also not going to contribute much to distribution. Conservative commentary by PSU employees and no enthusiasm for other asset additions has led to gradual decline from 130 levels. Investors who invested at those levels have already seen significant capital depreciation with only solace of 3rs quarterly distribution.
I am watching the scrip for last one year and looking for an entry and current yield is luring but risk of capital depreciation is keeping me at bay. Looking for initiating position from 95 levels and increasing one every fall as these yields for AAA rated govt instrument is already at lucrative levels .
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