Buy PNC Infratech, target price Rs 308: ICICI Direct

ICICI Direct has buy call on PNC Infratech with a target price of Rs 308. The current market price of PNC Infratech Ltd. is Rs 277.5. Time period given by analyst is Intra Day when PNC Infratech Ltd. price can reach defined target.

PNC Infratech Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 7126.66 Crore) operating in Infrastructure sector.

PNC Infratech Ltd. key Products/Revenue Segments include Contract Revenue, Material and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1825.48 Crore, up 22.94 % from last quarter Total Income of Rs 1484.81 Crore and up 43.62 % from last year same quarter Total Income of Rs 1271.05 Crore. Company reported net profit after tax of Rs 132.06 Crore in latest quarter.

Investment Rationale
Shallow pace of retracement and lower band of base formation. Daily stochastics oversold.

Promoter/FII Holdings
Promoters held 56.07 per cent stake in the company as of 30-Sep-2021, while FIIs owned 11.57 per cent, DIIs 28.34 per cent.