External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<ul><li>PNC Infratech has established itself as a strong executor in roads, water infra and airport runway segments</li><li>Reported EBITDA at Rs 165.5 crore was down 7.3% YoY with margin at 10.9%, down 263 bps YoY.</li><li>The company has booked Rs 39 crore towards impairment of Ghaziabad Aligarh Expressway Pvt Ltd. (associate company)</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

PNC Infratech has established itself as a strong executor in roads, water infra and airport runway segmentsReported EBITDA at Rs 165.5 crore was down 7.3% YoY with margin at 10.9%, down 263 bps YoY.The company has booked Rs 39 crore towards impairment of Ghaziabad Aligarh Expressway Pvt Ltd. (associate company)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech: HAM Monetisation – Key Trigger Ahead

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

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<ul><li>PNC Infratech: PNC Infratech (PNC) reported a muted quarter (owing to delay in execution of Jal Jeevan Mission (JJM) projects) with revenue/EBITDA/APAT of INR 15.2/2/1.1bn missing our estimates by 8/10/20%.</li><li>Whilst FYTD22 order inflow was tepid at INR 27bn, PNC maintained its INR 80bn order inflow target for FY22. In the water segment (INR 41bn OB), PNC has INR 32bn OB under JJM (ex of INR 23.4bn of new JJM projects won Jan-22).</li><li>.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

PNC Infratech: PNC Infratech (PNC) reported a muted quarter (owing to delay in execution of Jal Jeevan Mission (JJM) projects) with revenue/EBITDA/APAT of INR 15.2/2/1.1bn missing our estimates by 8/10/20%.Whilst FYTD22 order inflow was tepid at INR 27bn, PNC maintained its INR 80bn order inflow target for FY22. In the water segment (INR 41bn OB), PNC has INR 32bn OB under JJM (ex of INR 23.4bn of new JJM projects won Jan-22)..Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Nestle India, PNC Infratech

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>PNC Infratech Limited has played a crucial role in India’s infrastructural growth, particularly in the Highway and Airport sectors</li><li>Over the past 20 years, PNC Infratech has emerged as one of the most efficient players across several infra-segments such as roads and highways, bridges, and airport runways.</li><li>We recommend a Buy the stock for a target price of Rs 350 implying an upside of 15% from CMP</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

PNC Infratech Limited has played a crucial role in India’s infrastructural growth, particularly in the Highway and Airport sectorsOver the past 20 years, PNC Infratech has emerged as one of the most efficient players across several infra-segments such as roads and highways, bridges, and airport runways.We recommend a Buy the stock for a target price of Rs 350 implying an upside of 15% from CMPContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>PNC Infratech Ltd (PNCIL) reported a healthy set of Q2FY22 numbers driven by its superior execution and a robust order book</li><li>PNCIL has an order book of Rs 13,178 Cr (as of 30th Sep 2021), indicating revenue visibility for the next 2 years</li><li>We maintain a BUY on PNCIL and value EPC business at 13 x FY24E EPS and HAM portfolio at 1x book value to arrive at a target price of Rs 430, implying an upside of 30% from CMP.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

PNC Infratech Ltd (PNCIL) reported a healthy set of Q2FY22 numbers driven by its superior execution and a robust order bookPNCIL has an order book of Rs 13,178 Cr (as of 30th Sep 2021), indicating revenue visibility for the next 2 yearsWe maintain a BUY on PNCIL and value EPC business at 13 x FY24E EPS and HAM portfolio at 1x book value to arrive at a target price of Rs 430, implying an upside of 30% from CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<p>We initiate coverage with a BUY rating and value the company's EPC business at 14x FY24E EPS and HAM portfolio at 1x book value, to arrive at a target price of Rs 440/share. TP implies an upside potential of 24% from the CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We initiate coverage with a BUY rating and value the company's EPC business at 14x FY24E EPS and HAM portfolio at 1x book value, to arrive at a target price of Rs 440/share. TP implies an upside potential of 24% from the CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech: Well-Positioned to Capitalize on Strong Industry Tailwinds

India

PNC Infratech Limited operates as an infrastructure construction, development, and management company. The Company constructs highways, bridges, fly-overs, power transmission lines, and airport runways. PNC Infratech also provides construction services for waste management and industrial area development projects.

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PNC Infratech Ltd (PNCL IN)

PNC Infratech: HAM Monetisation – Key Trigger Ahead

PNC Infratech has established itself as a strong executor in roads, water infra and airport runway segments. Reported EBITDA at Rs 165.5 crore was...

ICICI Securities Limited

HSIE Results Daily: Nestle India, PNC Infratech

PNC Infratech: PNC Infratech (PNC) reported a muted quarter (owing to delay in execution of Jal Jeevan Mission (JJM) projects) with revenue/EBITDA...

HDFC Securities

Pick of the Week: PNC Infratech

PNC Infratech Limited has played a crucial role in India’s infrastructural growth, particularly in the Highway and Airport sectors

Axis Direct

PNC Infratech: Growth Momentum Continues

We maintain a BUY on PNCIL and value EPC business at 13 x FY24E EPS and HAM portfolio at 1x book value to arrive at a target price of Rs 430,...

Axis Direct

PNC Infratech: Well-Positioned to Capitalize on Strong Industry Tailwinds

We initiate coverage with a BUY rating and value the company's EPC business at 14x FY24E EPS and HAM portfolio at 1x book value, to arrive at a...

Axis Direct

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