Geojit Lists Mid Cap Construction Stock To Buy For Higher Return, Target Price Rs 107

Geojit recommends mid cap construction sector stock, NCC Limited to investors with target price of Rs 107 apiece. Last trading price of NCC Limited is Rs 89.20 apiece. If you buy NCC Limited at the last trading price, you can get a likely return of 20% soon. The stock gave a strong return of 58% in last 12 months. Check details below:

1. NCC Limited Return & Stock Performance

Stock Performance: NCC Limited's last trading price is Rs 89.20 apiece. The stock's 52-week high is Rs 97.95 apiece and 52-week low is Rs 51.00 apiece, respectively. The company has a market capitalisation is Rs 5,600.39 crore.

Return: It gave a return of 11% in last 3-months, 29% in last 6-months, and 59% return in last 1-year. In last 3-years, it rallied 116%.

2. NCC Limited Valuation

According to Geojit, "We maintained our FY23 revenue estimate and improved our EBITDA margin estimate by 20bps to 10% to factor in the benign commodity prices. We maintain BUY rating on the stock and value NCC at a P/E of 9x FY25E earnings with a target price of Rs 107."

NCC's order book remains at an elevated level of Rs 44,862cr (incl Rs 3,000cr LI order), which is 3.6x TTM revenue and provides revenue visibility, added Geojit.

3. NCC Limited About

NCC Ltd (NCC) is one of the largest, well diversified construction companies in India, with a foothold in every segment of the construction sector. NCC's Q3FY23 revenue grew 23% YoY, backed by its strong order book and robust execution of Jal Jeevan Mission projects.

Disclaimer

The stock has been picked from the brokerage report of Geojit. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.