Angel Broking handpicks 3 stocks from infra space

Angel Broking has come out with its report on infra space.

Earnings marred by margin pressure and higher interest costs: For 4QFY2011, slippage on the earnings front (barring SEL, L&T, JAL and MPL) was due to 1) margin pressure (average dip of 170bp qoq for 10 companies considered for the analysis in this report) on account of high commodity prices and 2) spiraling interest cost. This resulted in disappointing earnings despite decent top-line growth. Sector facing numerous headwinds: The construction sector is currently blemished by concerns: 1) Interest rates

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