Buy NBCC (India), target Rs 300: Citigroup

Citigroup has a buy call on NBCC (India) Ltd. with a target price of Rs 300.The current market price of NBCC (India) Ltd. is Rs 239.95. Time period given by analyst is Intra Day, when NBCC (India) Ltd. price can reach defined target. The company has large market opportunities and faces very little competition. The company also takes up low-risk, cost-plus contracts, and is well-placed for large order flows in future. It is the only PSU with long track record. NBCC has required skills to undertake PMC or redevelopment works. Combination of competitive advantages has left NBCC with solid financials. Redevelopment in Delhi will lead to order flow of around Rs 500-600bn over next 3-4 years.