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

MUMBAI (Reuters) - Goldman Sachs upgraded 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.

(Reporting by Abhishek Vishnoi and Manoj Dharra; Editing by Anupama Dwivedi)