India, Aug. 28 -- The country's biggest power transmission company has just landed two of the largest projects it was chasing, and one global brokerage thinks this changes the growth story quite a bit. Macquarie has slapped an 'Outperform' rating on the stock with a target price of Rs 400, which works out to a total shareholder return of around 51% over the next 12 months.

Shares ofPower Grid Corporation of India Ltd, with a market capitalization of around Rs.2,46,326 crore, closed at Rs.264.85, down nearly 0.43% from the previous close of Rs.266. It currently trades at a P/E ratio of 15.5.

Financial Highlights Power Grid's consolidated profit after tax came in at Rs 3,598 crore for the June quarter, down slightly from Rs 3,631 crore...