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Budget 2023
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Buy PNC Infratech: target of Rs 380: Sharekhan

Sharekhan is bullish on PNC Infratech has recommended buy rating on the stock with a target price of Rs 380 in its research report dated March 25, 2022.

March 28, 2022 / 02:18 PM IST
 
 
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Sharekhan's research report on PNC Infratech

PNC Infratech’s (PNC’s) L1 position in six hybrid-annuity model (HAM) projects with an aggregate bid project cost of Rs. 6,871 crore would help company achieve its Rs. 8000 crore order target for FY2022. Receipt of early completion bonus for Purvanchal Expressway (package V) highlights its strong execution capabilities. We expect tendering activities to pick up post FY2022 with COVID-19, extended monsoons and flood like situation in southern states, affecting business till February 2022.


Outlook

Hence, we retain a Buy on the stock with an unchanged PT of Rs. 380, considering its healthy growth outlook led by strong order book and recent order wins.