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Buy PSP Projects; target of Rs 760: ICICI Direct

ICICI Direct is bullish on PSP Projects has recommended buy rating on the stock with a target price of Rs 760 in its research report dated September 15, 2022.

September 16, 2022 / 04:04 PM IST
 
 
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ICICI Direct's research report on PSP Projects


Incorporated in 2008, PSP Projects (PSP) is one of the prominent contractors offering a diversified range of construction and allied services. Its focus remains on industrial, institutional, government, government residential and residential projects. PSP reported 34.3%, 31.2%, 31.3% CAGR in topline, EBITDA, PAT CAGR, respectively, during FY17-22 • Prudent management with net debt free, robust return ratios (RoCE: 25+%).


Outlook


We maintain our BUY rating on the company. We value PSP at Rs 760/share.


More Info


At 15:42 hrs PSP Projects was quoting at Rs 638.30, down Rs 6.95, or 1.08 percent.


It has touched an intraday high of Rs 662.35 and an intraday low of Rs 631.80.


It was trading with volumes of 47,080 shares, compared to its thirty day average of 21,559 shares, an increase of 118.38 percent.


In the previous trading session, the share closed up 0.50 percent or Rs 3.20 at Rs 645.25.


The share touched its 52-week high Rs 673.70 and 52-week low Rs 416.20 on 15 September, 2022 and 21 September, 2021, respectively.


Currently, it is trading 5.25 percent below its 52-week high and 53.36 percent above its 52-week low.


Market capitalisation stands at Rs 2,297.88 crore.


For all recommendations report, click here


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PSP Projects - 160922 - icici

Broker Research
first published: Sep 16, 2022 04:04 pm