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Buy PNC Infratech; target of Rs 389: Anand Rathi

Anand Rathi is bullish on PNC Infratech has recommended buy rating on the stock with a target price of Rs 389 in its research report dated November 20, 2021.

November 22, 2021 / 01:24 PM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

 
 
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Anand Rathi's research report on PNC Infratech


The continuing good pace of execution with no orders since Jan’21 mean PNC’s revenue assurance is now ordinary. Citing sound prospect pipeline, and as it expects competition to moderate (with the benefits of diluted PQs/other relaxations announced under the AtmaNirbhar Bharat Scheme set to lapse on 31st Dec’21), management is sanguine of adding orders in time to keep growth going beyond the foreseeable future. The balance sheet is sturdy, and with Ghaziabad-Aligarh monetisation nearing fruition, it has potential to be sturdier.




Outlook


On the proven execution abilities, a well-set BS and the potential, we raise our rating to a Buy with a higher TP of Rs389 (on rolling forward to FY24).

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For all recommendations report, click here


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first published: Nov 22, 2021 01:24 pm

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