Anand Rathi's research report on H G Infra Engineering
Its recent success with the Ganga Expressway EPC order from Adani has sufficiently bolstered HG's assurance, and its proven execution abilities keep us sanguine of an inspiring performance ahead. However, for it to realize the true potential of its life-high OB, timely receipts of appointed dates are critical. The comforting RoW status for most augur well. It realises the importance of churning assets to unlock capital for growth; thus, asset monetisation is being keenly considered.
On the continuing healthy execution and re-assuring valuations, we retain our Buy rating, with a TP of Rs898 (a step up from Rs896).
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