ETMarkets.com|Updated: May 24, 2018, 10.06 AM ISTSharekhan has a hold call on PTC India Ltd.
with a target price of Rs 95.
The current market price of PTC India Ltd.
is Rs 81.6.Time period given by the brokerage is a year when PTC India Ltd.
price can reach defined target.
PTC India Ltd., incorporated in the year 1999, is a mid-cap company with a market cap of Rs 2397.67 crore.
Investment rationale by SharekhanThe management has given a steady volume growth outlook, driven by signing of new PPA and commission of project.
However, the shift of volumes towards short-term volume (currently 53% mix) will exert pressure on margins.
In contrast, PTC has delivered strong realisation in FY2018 and the management expects the realisation to remain on the higher level, driven by higher merchant prices.
On this backdrop, we have tweaked our earnings estimates for FY2019 and FY2020E.
Correction in the stockprice provides a better opportunity to long-term investor given the steady earnings, higher dividend yields and decent return ratios.
Hence, we maintain our Hold with a revised price target of Rs.
95.Read this article in :HindiBuy Reliance Industries, target Rs 1110: SharekhanBuy Maruti Suzuki, target Rs 11085: SharekhanBuy Bharti Airtel, target Rs 520: SharekhanReduce Wipro, target Rs 270: SharekhanBuy Mahindra Mahindra Ltd.
target Rs 925 : SharekhanCommenting feature is disabled in your country/region.Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com ETMarkets.com.
Please consult your financial advisor before taking any position in the stock/s mentioned.From Around The WebMore from The TheIndianSubcontinent