Saturday , August 13 2022

Market Live: Sensex fights, Nifty back over 11,000; IT, Pharma immersion indexes



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ICICI Direct Downgrades NBCC

"While NBCC enjoys a unique business model and strong order book, the delay in launching its remodeling projects has a significant impact on performance. Therefore, we have sharply reduced our forecasts and now expect consolidated revenue and PAT to rise at a CAGR of 11.2 percent and 9.0 percent to Rs 12,290.4 crore and Rs 445.8 crore, respectively, in FY19-21E. Therefore, we are lowering stocks to hold, despite the attractive valuation with a target price of Rs 40 per share, "ICICI Direct said.

NBCC's consolidated cap increased 2 percent year-on-year to 1 891.1 kroner, lower than the forecast of 2.544.1 kronor. PAT has risen 33.2 percent year-on-year to 48.9 crores, mainly due to lower top line growth and a sharp shrinking EBITDA margin.

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ICICI Direct Downgrades NBCC

"While NBCC enjoys a unique business model and strong order book, the delay in launching its remodeling projects has a significant impact on performance. Therefore, we have sharply reduced our forecasts and now expect consolidated revenue and PAT to rise at a CAGR of 11.2 percent and 9.0 percent to Rs 12,290.4 crore and Rs 445.8 crore, respectively, in FY19-21E. Therefore, we are lowering stocks to hold, despite the attractive valuation with a target price of Rs 40 per share, "ICICI Direct said.

NBCC's consolidated cap increased 2 percent year-on-year to 1 891.1 kroner, lower than the forecast of 2.544.1 kronor. PAT has risen 33.2 percent year-on-year to 48.9 crores, mainly due to lower top line growth and a sharp shrinking EBITDA margin.

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