Street View: Analysts bullish on India's PNC Infratech despite Q4 profit slide

PNC Infratech

29/05/2023 08:06

** Shares of PNC Infratech Ltd  PNCI.NS  fall as much as
3.3% to 304.85 rupees, their steepest pct drop since March 27
    ** Trims losses to 0.82% as of 12:25 p.m. IST
    ** Construction co on Friday posted ~41% slip in
consolidated net profit after tax of 1.46 billion rupees 
($17.68 million) 
    ** Rev from ops rose 3.5% Y/Y while total expenses surged
7.6%

    'BETTER-THAN-EXPECTED EXECUTION'
    
    ** Phillip Capital ("buy", PT: 480 rupees) foresees strong
growth for the company in FY24 and beyond, driven by strong
balance sheet and orderbook; maintains FY24 and FY25 earnings
estimates 
    ** Nuvama ("buy", PT: 403 rupees) raises FY25 estimated EPS
by 5% on better-than-expected execution; says order accretion
will be key stock catalyst
    ** IDBI Capital ("buy", PT: 432 rupees) says margins could
surprise on upside, supported by execution of high margin water
projects; sees asset monetisation as a catalyst for uptick in
share prices
    ** Anand Rathi ("buy", PT: 416 rupees) raises its FY24 and
FY25 revenue estimates by ~1.5% each on swifter-than-expected
pace of execution; cites delay in order additions as key risk
    
    
($1 = 82.5789 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))