SBI Cap Securities maintains ‘hold’ on Sadhhav Engineering\, target price Rs 114

SBI Cap Securities maintains ‘hold’ on Sadhhav Engineering, target price Rs 114

Shares of Sabhbav closed at Rs 81, down 9.5%.

SBI Cap Securities has maintained its ‘hold’ rating on Sadhhav Engineering with a target price of Rs 114. The brokerage said funding constraints are impacting the execution of company’s projects with revenue falling 52.5% year-on-year in the quarter ending December. Furthermore, the quality of future growth is also at risk as the company has been waiting for the deal proceeds for over 8 months after officially announcing the deal. Shares of Sabhbav closed at Rs 81, down 9.5%.
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