Sharekhan has given Buy recommendation for PNC Infratech with a target price of Rs. 380 in its research report issued on Feb 17, 2022

Sharekhan’s research report on PNC Infratech

Standalone execution was lower than expectation, while OPM adjusted for impairment of an asset broadly remained in line. Order inflow remained muted YTD. Order book at Rs. 14,390 crore is 2.4x its TTM standalone revenue. Management has lowered its standalone revenue growth guidance for FY2022, while it retains order inflow guidance of Rs. 8,000 crore. Asset divestment decision to be taken by FY2022 end with proposals under evaluation.

Outlook

We retain Buy on PNC Infratech Limited (PNC) with a revised PT of Rs. 380, factoring downward revision in net earnings estimates.

More Info

At 16:00 hrs PNC Infratech was quoting at Rs 245.80, down Rs 16.25, or 6.20 percent.

It has touched an intraday high of Rs 257.50 and an intraday low of Rs 242.85.

It was trading with volumes of 68,819 shares, compared to its thirty day average of 32,553 shares, an increase of 111.41 percent.

In the previous trading session, the share closed down 4.74 percent or Rs 13.05 at Rs 262.05.

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 37.86 percent below its 52-week high and 13.01 percent above its 52-week low.

Market capitalisation stands at Rs 6,305.73 crore.

Leave a Reply

Your email address will not be published.