Ankita Shah, Vice President of Research at Elara Capital is bullish on the infrastructure sector and likes companies such as HG Infra Engineering, PNC Infratech, and GR Infraprojects, and NCC Shares of HG Infra Engineering and PNC Infratech surged up to 17% to hit their respective 52-week highs on Wednesday, May 21, after the companies emerged as lowest bidders (L1 bidders) for road construction projects in Maharashtra.While HG Infra saw some profit booking today (May 22), PNC Infratech continued its uptrend with over 5% gains.
PNC Infratech secured two road projects from MSRDC for an aggregate value of ₹4,994 crore .
HG Infra Engineering said the orders secured by the company were worth ₹4,142.22 crore.However, Larsen & Toubro (L&T) remains Shah's top pick given the strong order book worth around ₹5 lakh crore.She believes the company will continue to grow, especially with a better pipeline of domestic orders compared to the previous year.
Last year, international markets helped L&T's growth, but this year, domestic orders are expected to increase significantly, supporting ongoing growth.Shah believes these companies have the potential to growth their earnings by at least 20% over the next two years from FY24 to FY26.
Ankita Shah, Vice President of Research at Elara Capital is bullish on the infrastructure sector and likes companies such as HG Infra Engineering, PNC Infratech, and GR Infraprojects, and NCC Shares of HG Infra Engineering and PNC Infratech surged up to 17% to hit their respective 52-week highs on Wednesday, May 21, after the companies emerged as lowest bidders (L1 bidders) for road construction projects in Maharashtra.While HG Infra saw some profit booking today (May 22), PNC Infratech continued its uptrend with over 5% gains. PNC Infratech secured two road projects from MSRDC for an aggregate value of ₹4,994 crore . HG Infra Engineering said the orders secured by the company were worth ₹4,142.22 crore.However, Larsen & Toubro (L&T) remains Shah's top pick given the strong order book worth around ₹5 lakh crore.She believes the company will continue to grow, especially with a better pipeline of domestic orders compared to the previous year. Last year, international markets helped L&T's growth, but this year, domestic orders are expected to increase significantly, supporting ongoing growth.Shah believes these companies have the potential to growth their earnings by at least 20% over the next two years from FY24 to FY26.
