Result Update: NAGARJUNA CONSTRUCTION COMPANY (NCC)– BUY – TP Rs.107 - Kotak

Result highlights: Company's revenues for Q4FY17 were lower than our estimates and were impacted by demonetization, UP elections and delays in payments from some clients. Margins witnessed decline due to lower revenue booking. Interest expense continued to decline in line with the debt reduction as well as lower interest rates. Order inflow stood healthy during FY17 but was below the target of Rs 120 bn for the company. We tweak our FY18 estimates and introduce FY19 estimates. We continue to maintain BUY on the stock.

Shares of NCC Limited was last trading in BSE at Rs.85.8 as compared to the previous close of Rs. 83.25. The total number of shares traded during the day was 1444116 in over 5959 trades.

The stock hit an intraday high of Rs. 86.65 and intraday low of 78. The net turnover during the day was Rs. 119976534.

Source : Equity Bulls

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