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NCC share price: Buy NCC, target Rs 165: Phillip Capital (India) - The TheIndianSubcontinentNever miss a great news story!Get instant

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ଓଡିଆTEL - తెలుగుTAM - தமிழ்ET NOW RADIOET NOWTIMES NOWETMarkets.com|Aug 14, 2018, 11.06 AM ISTThe current

market price of NCC is Rs 98.Phillip Capital (India) has a buy call on NCC with a target price of Rs 165. The current market price of NCC is

Rs 98. Time period given by the brokerage is one year when NCC price can reach the defined target

Phillip Capital's view on the company:NCC delivered strong set of numbers – beating estimates

Topline/Margins/PAT were all ahead of expectations

Orderbook remained strong at 4x book-to-sales – enabling the management to maintain its FY19 guidance of 45% yoy topline growth

Margins continue their upward trajectory, as older low-margins orders get replaced by new high-margins orders (and also GST impact)

The highlight of the quarter though, was reduction in subsidiary losses – leading to similar PAT at standalone and consolidated levels

We expect the subsidiary losses to reduce significantly this year (Rs 1.5bn in FY18), as the company works to shut-down its Middle-East

business

We remain positive on the NCC story, of strong earnings growth, driven by robust execution and its presence across infrastructure

segments. Read this article in :HindiBuy NCC, target Rs 165: Phillip Capital (India)Buy Kotak Mahindra Bank, target Rs 1545: Phillip Capital

(India)Naveen Kulkarni of Phillip Capital picks 3 midcap ideasBuy Adani Ports Special Economic Zone, target Rs 480: Phillip Capital

(India)Buy Gujarat State Petronet target Rs 200: Phillip Capital (India)Commenting feature is disabled in your country/region.Disclaimer:

This recommendation is analyst's own and does not represent those of economictimes.com ETMarkets.com

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