Buy NCC; target of Rs 116: Anand Rathi

Anand Rathi's research report on NCC

NCC’s inspiring execution pace persists, margins are returning, and order additions continue to benefit from its diversified services. Potential exists to de-lever the balance sheet; such efforts are underway (asset monetisation and other wise). With this, the stage seems set for it to keep churning out a healthy performance. Government focus on infrastructure creation continues, and sturdy prospects keep the outlook bright.

Outlook

On the healthy prospects and sound fundamentals, we retain our Buy rating with a higher TP of Rs116 (on raised EBITDA and better CF).