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Buy PNC Infratech; target of Rs 234: HDFC Securities


HDFC Securities is bullish on PNC Infratech has recommended buy rating on the stock with a target price of Rs 234 in its research report dated June 27, 2020.

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HDFC Securities' research report on PNC Infratech

Whilst PNC reported 4QFY20 Rev/EBIDTA/APAT miss of 8.1/10.3/3.8% respectively, gains on Balance sheet was commendable. NWC reduced from 97days in FY19 to 60days during FY20 on back of robust collections. PNC reported net cash of Rs 4.1bn. Despite challenging FY20, PNC backed new orders worth Rs 52bn taking the order backlog to ...


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