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Buy PNC Infratech; target of Rs 390: Sharekhan

Sharekhan is bullish on PNC Infratech has recommended buy rating on the stock with a target price of Rs 390 in its research report dated March 10, 2023.

March 13, 2023 / 01:02 PM IST
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Sharekhan's research report on PNC Infratech

The company announced declaration of L1 bidder for two HAM projects aggregating to Rs. 2004 crore. Order wins comes at critical time due to nil order inflows during 9MFY2023. Road project awards and construction activities picked up in January 2023 with a 2.2x m-o-m jump and 2.6x m-o-m rise, respectively. Expect strong project awards during Q4FY2023. Order book as on Q3FY2023 remain healthy. Receipt of appointed dates for HAM projects along with expected order wins in near term would provide healthy revenue growth for FY2024 and FY2025.


We retain a Buy on PNC Infratech Limited (PNC) with an unchanged price target (PT) of Rs. 390, considering favourable risk-reward ratio and it being one of the key beneficiaries of a positive sector outlook.

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PNC Infratech - 13 -03 - 2023 - khan

Broker Research
first published: Mar 13, 2023 01:02 pm