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Construction sector: Back on growth highway

We remain positive on our high conviction ideas -- companies with lower debt to equity and better execution capabilities -- such as KNR, PNC and HG Infra which we believe could take full advantage of the infra boom

February 26, 2021 / 06:17 PM IST
Construction sector: Back on growth highway

Representative image

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Jitendra Kumar Gupta and Bharat Gianani Highlights - December quarter was a turnaround quarter with revenue growth on yoy basis after a gap of three quarters; strong 30 percent qoq growth as well -Operating profits improve, driven by better execution; profitability above pre-COVID levels -Strong orderbook position provides growth visibility -Remain positive on high conviction ideas KNR, PNC and HG Infra as they are better placed to take advantage of the infra boom The December 2020 quarter was a turnaround quarter for the construction sector...

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