Expect bounce back in Nagarjuna Construction, IVRCL Infra and Patel Engineering, says Abhijit Chakraborty, Fortune Financial.
Chakraborty told CNBC-TV18, "What we have seen is that there has definitely been a pick up in the execution in certain road projects as well as irrigation projects, which were like an absolute stand still in Q3 and coupled with the fact that we have seen some incremental order inflows from NHAI which has completely dried up. So I think Q4 numbers are going to be positive for most of the infrastructure companies in terms of order booking picking up as well as the sales picking up because of higher execution."
He further added, "Some of the midcap names, IVRCL, Nagarjuna even Patel Engineering, which are trading at extreme low valuation compared to their historical valuation band because they have not been performing well on execution front for the last couple of quarters and I think with the pick up now very much visible in Q4 and the valuations very attractive, Nagarjuna, IVRCL, Patel Engineering are some of the stocks, which are looking ripe for a bounce back."
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