Buy JMC Projects (India): target of Rs 83: Sharekhan
Sharekhan is bullish on JMC Projects (India) has recommended buy rating on the stock with a target price of Rs 83 in its research report dated January 06, 2020.
January 07, 2021 / 03:32 PM IST
Sharekhan's research report on JMC Projects (India)
Road project awarding and construction activities increased during November 2020. Toll project revenues are also rising robustly as reflected in FASTag and NHAI toll collections. Bank credit deployment to roads sector has started improving with a healthy y-o-y rise during September to November which should help execution of ongoing projects and financial closure of new projects. Management expects restructuring and refinancing of BOT road assets to conclude by FY2021-end,while asset divestment is expected to take time.
We retain a Buy rating on JMC Projects with a revised price target of Rs. 83, considering a positive outlook for the sector and favorable valuation.
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