PNC Infratech share price hits new 52-week high

PNC Infratech share price gained 3 percent intraday on February 9 after global research firm Nomura maintained a buy call on the stock.

The Japanese research firm has raised the target to Rs 364 from Rs 255 per share earlier. It is of the view that large order book and low leverage are positive catalysts adding that delivery of execution and strong cash flow track record places the company favourably.

Nomura has raised its FY22 EPS estimate by 11 percent factoring in strong order inflows.

The stock was trading at Rs 275, up Rs 6.90, or 2.57 percent. It has touched a 52-week high of Rs 284.45. It has touched an intraday high of Rs 284.45 and an intraday low of Rs 272.00.

The company reported quarterly net profit at Rs 103.17 crore in December 2020 up 33.75 percent from Rs 77.14 crore in December 2019. Net Sales of the company was at Rs 1,322.42 crore in December 2020 up 8.57 percent from Rs 1,218 crore in December 2019.