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Hold NCC: target of Rs 75: ICICI Direct

ICICI Direct recommended hold rating on NCC with a target price of Rs 75 in its research report dated August 11, 2022.

August 12, 2022 / 05:24 PM IST
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ICICI Direct's research report on NCC

NCC is one of the leading construction companies in India with a presence across varied verticals of infrastructure space such as buildings, roads, water, mining and electrical. Standalone order book is robust at Rs 37.838 crore. Well-diversified order backlog, robust execution capabilities and strong focus on debt reduction, working capital to characterise NCC over next few years.


While strong execution traction is a positive surprise, we await stability in margins and consistency in leverage management. Thus, we maintain HOLD rating on the stock. We value NCC at Rs 75/share (at 9x FY24 P/E).

For all recommendations report, click here


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NCC - 110822 -ic

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first published: Aug 12, 2022 05:24 pm
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