Accumulate PNC Infratech Ltd., target Rs 134.0 : Kotak Securities Limited

Kotak Securities Limited has Accumulate call on PNC Infratech Ltd. with a target price of Rs 134.0. The current market price of PNC Infratech Ltd. is 120.9. Time period given by analyst is year, when PNC Infratech Ltd. price can reach defined target. Kotak Securities said that based on current order book of Rs 64.7 billion and robust pipeline for future projects, it expects the company's revenue to grow at 22.9% CAGR in FY16 18. It has maintained its earnings estimates for FY17 and FY18.