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Last Updated : Sep 11, 2019 02:42 PM IST | Source: Moneycontrol.com

Buy Ahluwalia Contracts; target of Rs 333: Dolat Capital

Dolat Capital is bullish on Ahluwalia Contracts has recommended buy rating on the stock with a target price of Rs 333 in its research report dated September 11, 2019.

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Dolat Capital's research report on Ahluwalia Contracts


Though the global economic growth declined from 3.8% in 2017 to 3.6% in 2018, the Indian economy remained relatively steadfast. Growth in activity and capital inflows was witnessed in the Indian Construction Sector driven mainly by Government Capex. The EPC segment regained its growth momentum in 2018 due to positive developments in the economy, investments in transport infrastructure, energy and housing projects as stated in ‘Construction in India’ by Global Data. Private corporate Capex has been declining due to debt overhang and reduced funding from financial institution.


Outlook


Accordingly, we downgrade ACIL to Accumulate with a same TP of `333 (13x FY21E EPS). We maintain our FY20E/ FY21E estimates.


For all recommendations report, click here


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First Published on Sep 11, 2019 02:42 pm
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