Buy NBCC on ever dip, says Jagannadham Thunuguntla

Jagannadham Thunuguntla, Head of Research at Karvy Stock Broking told CNBC-TV18, "NBCC had a phenomenal time in the last two years or so. The company has been enjoying a very healthy order book, roughly around Rs 26,000 crore now. Going by the current trends as well as the management guidance, if a Rs 1,000 crore order book can be expected, then the company is enjoying very healthy returns on equity (ROE) and return on capital employed (ROCE) and thanks to their public work start status, the order book offtake as well as the new order intake is almost assured.""We feel every dip should be used to buy. The stock has already seen a rally, but we feel that it should be used to buy. It will not be surprising, maybe the stock will be seen higher at about Rs 1,250," he said.