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Buy PNC Infratech; target of Rs 310: Geojit

Geojit is bullish on PNC Infratech has recommended buy rating on the stock with a target price of Rs 310 in its research report dated Jun 29, 2021.

June 30, 2021 / 04:03 PM IST
 
 
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Geojit's research report on PNC Infratech


PNC Infratech Ltd (PNC) is an Infrastructure construction, development and management company; expertise in execution of projects including highways, bridges, flyovers, airport runways, industrial areas and transmission lines. PNC reported a strong revenue growth of 42% YoY in Q4FY21 (better than estimate) as project execution improved due to normalcy in operation post Covid. Order book (incl. L1) remains healthy at Rs16,000cr which is 3.3x FY21 revenue, provides revenue visibility for two to three years.



Outlook


Growth in the order book and pick up in execution will drive earnings. We reiterate our Buy rating on the stock with a TP of Rs310 based on a P/E of 13x on FY23E EPS and BOT/HAM projects at 0.5xP/B.

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For all recommendations report, click here

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first published: Jun 30, 2021 04:03 pm
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