Hold NCC; target of Rs 93: Karvy
Karvy recommended hold rating on NCC with a target price of Rs 93 in its research report dated February 14, 2017.
Karvy's research report on NCC
Implied valuation at 12.5x P/E on FY18E standalone earnings looks fair after the downward revision in earnings estimates. We downgrade our rating on NCC to Hold (from Buy earlier) with a revised target price of Rs 93 (based on 14x P/E standalone FY18E EPS and Rs 18/share to development business).
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