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    Buy Ashoka Buildcon, target price Rs 200: Centrum Broking

    Synopsis

    Ashoka Buildcon Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 3173.58 Crore) operating in Infrastructure sector.

    Buy
    Promoters held 54.48 per cent stake in the company as of 30-Sep-2021, while FIIs owned 2.8 per cent, DIIs 23.02 per cent.
    Centrum Broking has buy call on Ashoka Buildcon with a target price of Rs 200. The current market price of Ashoka Buildcon Ltd. is Rs 112.85.

    Time period given by analyst is one year when Ashoka Buildcon Ltd. price can reach defined target.

    Ashoka Buildcon Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 3173.58 Crore) operating in Infrastructure sector.

    Ashoka Buildcon Ltd. key Products/Revenue Segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue and Scrap for the year ending 31-Mar-2021.


    Financials
    For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1310.15 Crore, down -26.41 % from last quarter Total Income of Rs 1780.22 Crore and up 65.32 % from last year same quarter Total Income of Rs 792.50 Crore. Company reported net profit after tax of Rs 75.69 Crore in latest quarter.

    Investment Rationale
    Ashoka Buildcon (ABL) has signed a revised agreement with SBI-Macquarie (SBI-M) in respect of SBI-M’s Rs8bn investment in ACL. The revised agreement caps the assured valuation at ~Rs12bn (till Dec-21) from Rs15.3bn earlier, thereby lowering the burden for ABL by Rs3.3bn (10% of market cap) – positive for ABL.

    Promoter/FII Holdings
    Promoters held 54.48 per cent stake in the company as of 30-Sep-2021, while FIIs owned 2.8 per cent, DIIs 23.02 per cent.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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