Sharekhan recommended hold rating on PTC India with a target price of Rs 95 in its research report dated May 18, 2018.
Sharekhan's research report on PTC India
PTC India (PTC) net sales grew 24% y-o-y to Rs. 3925 crore driven by volume and realisation growth during the period. The company’s realisation exceeded our expectation and stood at Rs. 3.3/unit, a growth of 7% y-o-y. Operationalisation and signing of numerous power purchase agreement to drive volumes.
Stock price correction provides a good opportunity to long-term investor given the steady earnings, higher dividend yields and decent return ratios. Hence, we maintain our Hold with a revised price target of Rs. 95.
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