Power Grid (PGRD) is down 2.4% after warning of a dividend cut, despite increasing its capital expenditure (capex) outlook to $5.25 billion. Analysts are divided; some foresee stock pressure while others emphasize growth potential tied to ROE.

• Dividend cut sparks concern among investors.
• Capex hiked to 450 billion rupees.
• Ambit Capital views PGRD as a growth stock.