Buy Ashoka Buildcon, target price Rs 140: HDFC Securities

HDFC Securities has buy call on Ashoka Buildcon with a target price of Rs 140. The current market price of Ashoka Buildcon is Rs 79.05. Time period given by analyst is one year when Ashoka Buildcon Ltd. price can reach defined target.

Ashoka Buildcon Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 2217.71 Crore) operating in Infrastructure sector.

Ashoka Buildcon Ltd. key Products/Revenue Segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 1915.93 Crore, down -6.86 % from last quarter Total Income of Rs 2056.99 Crore and up 46.24 % from last year same quarter Total Income of Rs 1310.15 Crore. Company reported net profit after tax of Rs 128.98 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 54.48 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.43 per cent, DIIs 19.82 per cent.