Buy Ashoka Buildcon, target price Rs 302: HDFC Securities
HDFC Securities has a buy call on Ashoka Buildcon with a target price of Rs 302. The current market price of Ashoka Buildcon is Rs 237.85. Ashoka Buildcon, incorporated in 1993, is a Mid Cap company with a market cap of Rs 6663.25 crore, operating in the infrastructure sector.
Ashoka Buildcon’s key products/revenue segments include Income From Construction Work, Ready Mix Concrete, Other Operating Revenue, Scrap and Land for the year ending 31-Mar-2023.
Investment Rationale
Ashoka Buildcon has guided FY25 revenue to be flat on a YoY basis. On the HAM portfolio, the company has already invested Rs 10.7 billion; the balance equity requirement in its existing NHAI HAM assets is Rs 1 billion as of Sep 24, which will be infused in H2FY25…
