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Brokerages bullish on PNC Infra despite dismal Q1 numbers; here’s why


Brokerages stay optimistic on PNC Infratech at the same time as the corporate reported a 49% drop in consolidated internet revenue for the June quarter at Rs 91.7 crore.

Sturdy order guide and steadiness sheet are the important thing causes why brokerages have retained ‘purchase’ rankings on the inventory.

“The most important optimistic was the corporate having the ability to handle the margins (yoy and qoq), with lively value controls. The orderbook, publish the current wins seems strong at 3.5 occasions book-to-sales,” mentioned Phillip Capital, elevating goal worth on the inventory to Rs 270 from Rs 260 and sustaining a purchase score.

“The administration maintained its 10% 12 months on 12 months income de-growth in FY21–more likely to be met simply. We foresee robust development in FY22 and past, pushed by a powerful steadiness sheet and orderbook,” the brokerage added.

IIFL has retained ‘purchase’ score on the inventory with a goal worth of Rs 202. Dolat Capital has additionally retained ‘purchase’ with a goal worth of Rs 271. Equirus has a ‘lengthy’ score with a goal worth of Rs 249.

Nomura has retained ‘purchase’ name however lowered goal worth to Rs 255 from Rs 295 to issue within the impression of COVID-19 and better tax fee.

Nomura mentioned a powerful orderbook, lean steadiness sheet, and execution monitor document is probably going to assist the corporate climate COVID-19 associated impression.

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