Buy Ashoka Buildcon; target of Rs 127: Anand Rathi

Anand Rathi is bullish on Ashoka Buildcon has recommended buy rating on the stock with a target price of Rs 127 in its research report dated November 16, 2020.

Broker Research

November 30, 2020 / 10:31 AM IST

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Anand Rathi's research report on Ashoka Buildcon

Notwithstanding the early-rains and continuing Covid’19-impact, Ashoka’s Q2 revenue marks its return to growth, and suggests of even better times ahead. With execution efficiencies returning to normal, inflows are the other key deliverable and management expects to make more progress in H2 on this front. A well-set balance sheet and some progress on the SBI-Macquarie exit are good auguries.

Outlook

Its proven execution capabilities and a well-set balance sheet impel us to retain our Buy rating, with a TP of Rs127.

For all recommendations report, click here

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