Look at NCC, says Shirish Rane

Shirish Rane, Head-Research at IDFC Securities told CNBC-TV18, "Infra companies have not really benefitted as such, because Telangana and Andhra Pradesh has not awarded lot of construction orders which have gone to NCC, but with the new capital of new Andhra Pradesh, the work starting on the new capital, they will be a beneficiary, a big beneficiary of the new orders which will come out of the capital reconstruction or fresh building of the capital.""So far that has not been the case, because hardly any major orders have been awarded for it. But over the next 12-24 months, we do expect them to be a significant beneficiary of that. Moreover, if you see their order inflow over the past 12 months or so, it has been very widespread as they have got road orders, they have got building orders, they have got water supply orders. So, this is one company which is very well-diversified and they will benefit from increase in ordering activity from the government side over the next 12 months and which is why we like the company," he added."The balance sheet has got addressed, the debt part in the balance sheet has got addressed with the rights issue about a year ago and now, they are in a very comfortable position. They are also in the midst of selling some of these BOT assets and property assets which they have invested over the last 5-7 years. So, overall, we do not worry about the balance sheet and we think they will continue to grow at 20-25 percent from a sharp growth after last year which we saw because of the debt reduction," he said.