Here are the Top Analysts and Research House reviews on
PNC Infratech IPOAngel Broking Analyst Yellapu Santosh has the following Review
The issue poses a good opportunity for investors with a 12 month investment horizon as the stock has potential to get re-rated on account of panning out of possible triggers, which include 1) commencement of Tolling/ Annuity across 4 BOT projects, 2) news flow
pertaining to better execution and stable EBITDA margins (at ~13%) and (3) gradual build-up in the company’s track-record as a listed entity. Accordingly, we advise investors with a 12 months investment horizon to SUBSCRIBE to this issue at the lower end of the price band.
ICICI Direct Analysts Deepak Purswani & Nikunj Gala have the following views,
At the IPO price band of | 355-378, the stock is available at a multiple of 20.5-21.8x FY15 annualised diluted EPS.
Rajnath Yaday at Choice Institutional Research has the following recommendation
At lower and upper price band, PNC’s shares are available at P/E multiple of 24.1x and 25.7x, which is at 17%-24% premium to average P/E multiple of peers. Thus we feel that the PNC’s IPO pricing level is not justified, given the lower profitability margins and return ratios as compared to its peers. Thus, we recommend investors to AVOID the issue
Ronit Sinha Equity Analyst at Asit C Mehta in a report said,
Post issue the shares are offered at PE of 21x-22x of FY15(annualized) earnings at lower and upper price band respectively, which seems to be slightly on the higher side as compared with its peers such as IRB infra and JKumar infra which are trading at 15x and 18x of TTM earnings, respectively. Hence, we recommend investors to AVOID the issue.
