Despite impact of pandemic and economic situation, management further guided for capex of ~Rs105bn and capitalization of ~Rs200-250bn for FY21E. Power Grid Corporation of India (PGCIL) reported decent numbers amid the pandemic wherein revenue growth was driven by Transmission/ Consultancy segment (which was up 7%/3% YoY). Despite the current economic environment, Capex/Capitalization came in at Rs35.5/46.4bn in Q4. The...