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Prabhudas Lilladher Report
Despite hiccups caused by pandemic, we continue to remain positive on the infra sector as our thesis of robust ordering, execution ramp up, lean balance sheet, improving return ratios and asset monetization are largely playing out.
With healthy order book, strong bid pipeline, rising toll revenues and strong infra push given by the National Infrastructure Pipeline and Budget 2021, most infra companies are witnessing strong re-rating.
We continue to prefer companies with strong balance sheet, low debt levels, good corporate governance, well managed working capital cycle and high book to bill ratio.
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