Sharekhan's research report on PNC Infratech
The company announced declaration of L1 bidder for two HAM projects aggregating to Rs. 2004 crore. Order wins comes at critical time due to nil order inflows during 9MFY2023. Road project awards and construction activities picked up in January 2023 with a 2.2x m-o-m jump and 2.6x m-o-m rise, respectively. Expect strong project awards during Q4FY2023. Order book as on Q3FY2023 remain healthy. Receipt of appointed dates for HAM projects along with expected order wins in near term would provide healthy revenue growth for FY2024 and FY2025.
Outlook
We retain a Buy on PNC Infratech Limited (PNC) with an unchanged price target (PT) of Rs. 390, considering favourable risk-reward ratio and it being one of the key beneficiaries of a positive sector outlook.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.