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.
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.
At 14:14 hrs PNC Infratech was quoting at Rs 243.25, down Rs 1.45, or 0.59 percent.
It has touched an intraday high of Rs 246.70 and an intraday low of Rs 239.00.
It was trading with volumes of 35,654 shares, compared to its thirty day average of 43,509 shares, a decrease of -18.05 percent.
In the previous trading session, the share closed down 0.79 percent or Rs 1.95 at Rs 244.70.
The share touched its 52-week high Rs 395.55 and 52-week low Rs 217.50 on 13 October, 2021 and 06 May, 2021, respectively.
Currently, it is trading 38.5 percent below its 52-week high and 11.84 percent above its 52-week low.
Market capitalisation stands at Rs 6,240.32 crore.
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