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3 Infra Stocks To Buy: Can Gain Upto 39%, Strong Execution, PAT Surged

India's infrastructure sector is expected to experience robust growth. GDP has improved, government is focusing on developing road and highway communication to improve the supply chain. ICICI Direct suggested these 3 infra stocks.
HG Infra Engineering
HG Infra's current market price is Rs. 572, ICICI Direct estimated a target price of Rs. 735, for 28% return. Its market capitalization (small cap) is Rs. 3,737 crore.
Company outlook
Its net sales was Rs. 1,064.69 crore in Q4FY22, gaining 0.79% YoY. Company is working on a construction project under NHAI, with Rs. 432.00 crore in Haryana.
PNC Infratech (PNCINF)
PNC Infra's current market price is Rs. 248, ICICI Direct estimated a target price of Rs. 345, for 39% return. Its market capitalization (small cap) is Rs. 6,519 crore.
Company outlook
Its PAT improved 59% YoY to Rs. 206 crore in Q4, company is likely to be a major beneficiary of the thriving roads and water supply segment (Jal Jeevan Mission).
GR Infraprojects
GR Infra's current market price is Rs. 1402, ICICI Direct estimated a target price of Rs. 1690, for 21% return. Its market capitalization (mid cap) is Rs. 13,797 crore.
Company outlook
On QoQ, the company reported a 24.7% growth, PAT was at Rs. 265.2 crore, up 7.2% YoY. It has guided for Rs. 15,000 crore of order inflows during FY23.