PNC Infratech's Robust Order Book Likely to Drive Growth -- Market Talk

Dow Jones2025-06-05

0719 GMT - PNC Infratech's robust order book of INR177.92 billion as March 31 is likely to drive growth, Axis Securities analysts say in a note. This order book represents over 3.2x the Indian company's FY 2025 revenue and offers revenue visibility for next 2-2.5 years, the analysts say. The infrastructure company is also widening its focus to include bids in the railway and water segments across state and central projects in India. This approach aims to reduce its dependence on the road sector and create a more resilient revenue base. The brokerage raises the stock's target price to INR340.00 from INR300.00 to reflect a valuation roll-over, with an unchanged buy rating. Shares are 9.2% higher at INR311.40. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

June 05, 2025 03:19 ET (07:19 GMT)

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This order book represents over 3.2x the Indian company's FY 2025 revenue and offers revenue visibility for next 2-2.5 years, the analysts say. The infrastructure company is also widening its focus to include bids in the railway and water segments across state and central projects in India. This approach aims to reduce its dependence on the road sector and create a more resilient revenue base. The brokerage raises the stock's target price to INR340.00 from INR300.00 to reflect a valuation roll-over, with an unchanged buy rating. Shares are 9.2% higher at INR311.40. 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