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Buy Ashoka Buildcon: target of Rs 125: Sharekhan

Sharekhan is bullish on Ashoka Buildcon has recommended buy rating on the stock with a target price of Rs 125 in its research report dated June 22, 2021.

June 23, 2021 / 02:31 PM IST
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Todays L/H

Sharekhan's research report on Ashoka Buildcon

Q4FY2021 standalone revenues remained broadly in-line while OPM came in much better than estimate leading to beat on standalone net profit. Management retained FY2022 standalone revenue guidance and raised OPM. Expect to receive another Rs. 4000-5000 crore order inflows in FY2022 with expected pick up in tendering from Q2FY2022. Asset monetisation to happen asset by asset versus earlier portfolio sale. Expect most of the ACL assets to be sold by Q3FY2022 with receipt of funds in FY2022.


We retain a Buy on Ashoka Buildcon Limited (Ashoka) with an unchanged price target of Rs. 125, considering a healthy order backlog, comfortable liquidity and an improving industry outlook.

For all recommendations report, click here

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Broker Research
first published: Jun 23, 2021 02:31 pm

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