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  • PNC Infratech

    PNC Infratech’s order book in Q3FY19 stands at ~Rs7965cr, providing revenue visibility of three years. Supported by an increase in spending on road infrastructure, we expect the company’s order book to rise by 25% CAGR over FY18-20E. We expect t...

    Buy Reco. Price: 158.00

  • Ashoka Buildcon

    The order book of ABL was worth ~Rs9537cr (Q3FY19) giving the company revenue visibility for the next three years. We expect the company’s toll revenue to report annual growth of 8% in FY20E. We estimate ABL to report revenue CAGR of 26% over FY18-20E...

    Buy Reco. Price: 137.00

  • NCC

    We expect the company to report a revenue CAGR of 34% over FY18-20E on the back of improving project execution. The reduction in principal repayments and plans for asset sale in future will strengthen the balance sheet of the company. This will reduce the c...

    Buy Reco. Price: 105.00

  • Sadbhav Engg.

    Sadbhav’s order book was at ~Rs12872cr as of Q3FY19. The construction of roads and highways has witnessed a pickup owing to an increase in focus on infrastructure by government. The company is also well positioned to benefit from the Bharatmala projec...

    Buy Reco. Price: 257.00

  • H P C L

    We believe that auto fuels would be the key demand driver, followed by LPG and lubricants. Moreover, ONGC's takeover of government’s 51.1% stake in HPCL is expected to lead to cost synergies. We expect revenue CAGR of ~7% over FY18-20E. Strong out...

    Reduce Reco. Price: 267.00

  • B P C L

    Kochi refinery ran 100%, and all the secondary units have been stabilised. BPCL will start to focus on optimising GRMs, which are expected to improve by US$1.5/bbl for the entire expanded capacity.  The downstream petrochemical integration project...

    Reduce Reco. Price: 389.00

  • Dilip Buildcon

    DBL’s order book stood at ~Rs23100cr (Q3FY19), which was ~3x its FY18 revenues. Company has guided for order inflows of Rs10,000-12,000cr in FY19E on the back of strong ordering of around Rs1.4lakh crore from NHAI. The Bharatmala project related order...

    Buy Reco. Price: 603.00

  • Interglobe Aviat

    IndiGo is transforming to gain market share (currently 43.2%) by shifting from pure sale/leaseback model to buying aircrafts as well as increasing emphasis on shorter-term leases. The airline has sufficient free cash of Rs4,618cr (as on Q3FY19) to fund flee...

    Accumulate Reco. Price: 1,274.00

  • CESC

    CESC is likely to see revenue CAGR of 6.1% over FY18-20E aided by PPA opportunities for power generation business. As on 30 October, the company has demerged the Retail (Spencers) and CESC Ventures businesses. We expect PAT CAGR of 18% over FY18-20...

    Buy Reco. Price: 724.00

  • NHPC Ltd

    NHPC Ltd is likely to report revenue CAGR of 1.5% over FY18-20E aided by rise in generation volumes supported by new capacity additions in FY18-19E. We expect EBITDA CAGR of 3.1% over FY18-20E with an EBITDA margin of 62.4% in FY20E. The company’s div...

    Buy Reco. Price: 25.00