CLSA Upgrades Power Grid

<?xml version="1.0" encoding="UTF-8"?><root available-locales="en_US," default-locale="en_US"><static-content language-id="en_US"><![CDATA[<p>CLSA upgrades Power Grid Corporation of India to "buy" from "outperform", while maintaining its target price at 125 rupees, citing stronger-than-expected orders.<br><br>CLSA raises its capex estimates for the next three years, though says it could lead to equity dilution of 10 per cent in fiscal 2014 if the company maintains 70:30 debt equity funding, higher than its previous estimate of 5 per cent.<br><br>Shares in Power Grid fall 0.6 per cent to 103.10 rupees, slightly outperforming 0.74 per cent fall in Nifty index.</p> <p>&nbsp;</p> <p>(Reuters)</p>