Anand Rathi has given Buy recommendation for PNC Infratech with a target price of Rs. 378 in its research report issued on Feb 19, 2022

Anand Rathi’s research report on PNC Infratech

With no new road EPC/hybrid annuity orders since Jul’20, irrigation/ water-orders and the recent user-fee toll-collection contract keep PNC’s assurance respectable, and make growth possible in the foreseeable future. Efforts are underway to add road orders; bids have already been placed, anticipated year-end surge in awarding and gradual restoration of diluted PQs/other relaxations (movement visible already) would help. The standalone leverage rose, but is not discomfiting (drawdowns consciously delayed at SPVs). Any monetisation receipts as well as drawdowns at SPVs constitute potential for the balance sheet to turn sturdier.

Outlook

On the benign valuations, proven execution abilities, and long-term prospects in place, our Buy rating stays, with a TP of Rs378.

More Info

At 13:31 hrs PNC Infratech was quoting at Rs 255.20, up Rs 10.10, or 4.12 percent.

It has touched an intraday high of Rs 256.00 and an intraday low of Rs 247.35.

It was trading with volumes of 21,872 shares, compared to its thirty day average of 33,519 shares, a decrease of -34.75 percent.

In the previous trading session, the share closed down 6.47 percent or Rs 16.95 at Rs 245.10.

The share touched its 52-week high Rs 395.55 and 52-week low Rs 217.50 on 13 October, 2021 and 06 May, 2021, respectively.

Currently, it is trading 35.48 percent below its 52-week high and 17.33 percent above its 52-week low.

Market capitalisation stands at Rs 6,546.88 crore.

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