Buy NCC, target price Rs 79: IIFL

IIFL has buy call on NCC Ltd. with a target price of Rs 79. The current market price of NCC is Rs 73.1.
NCC Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 4589.56 Crore) operating in Construction sector.

NCC Ltd. key Products/Revenue Segments include Income From Contracts and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 3350.91 Crore, down -4.03 % from last quarter Total Income of Rs 3491.76 Crore and up 60.85 % from last year same quarter Total Income of Rs 2083.21 Crore. Company reported net profit after tax of Rs 134.81 Crore in latest quarter.


Investment Rationale
The stock has given a pennant breakout.

Promoter/FII Holdings
Promoters held 21.99 per cent stake in the company as of 30-Sep-2022, while FIIs owned 9.77 per cent, DIIs 13.1 per cent.