Best Stocks to Buy Today : IIFL Securities's call on Ncc - June 21
IIFL Securities has issued a buy call for NCC, recommending the stock's purchase on June 21. The target price has been set at Rs 345, indicating a potential upside of approximately 4% from the current market price of Rs 331.05. This buy call suggests that IIFL Securities anticipates a favorable market performance for NCC in the near term. Investors should conduct their own research and consider their individual financial goals before making any investment decisions based on this recommendation.
About Ncc:
NCC Limited (formerly National Construction Company Limited) is an Indian construction company founded in 1928. Headquartered in Mumbai, it is primarily involved in the engineering, procurement, and construction (EPC) of civil infrastructure projects, including roads, highways, bridges, flyovers, railways, airports, ports, water and wastewater treatment plants, industrial and commercial structures, power plants, and renewable energy projects. NCC also offers project management, design and engineering, and real estate development services. The company has a wide network of offices and project sites across India and has executed numerous landmark projects in the country.
52 Week Price Trend:
NCC's current market price (CMP) of Rs 331.05 reflects a significant premium over its 52-week low of Rs 88.25. While the price has not reached its 52-week high of Rs 264.95, it indicates a steady increase in the company's valuation. This positive trend suggests that investors are confident in NCC's growth prospects, given its strong order book, diversified operations, and focus on infrastructure development.
Stratzy's MOST Analysis:
NCC's strong "AAA" rating in Stratzy's MOST framework indicates that it is viewed as a highly stable and reliable investment. The framework evaluates four key pillars: Management, Outlook, Safety, and Trend. NCC's impressive performance in these areas suggests that it has strong management, a positive business outlook, a solid financial position, and favorable industry trends. This comprehensive assessment highlights NCC's low fundamental risks and positions it as an attractive option for investors seeking companies with financial stability and promising growth potential.
Company's Fundamentals:
NCC (NSE:NCC) is a leading construction company in India. As of today, its stock is trading at a price-to-earnings (PE) ratio of 23.69, which indicates that investors are willing to pay 23.69 times the company's annual earnings per share for its stock. The price-to-book (PB) ratio of 2.53 suggests that the market value of NCC's assets is 2.53 times their book value. Finally, the dividend yield of 0.87% implies that investors can expect to receive an annual dividend of 0.87% of the stock's current market price.
Fundamental and Technical information provided in this blog were last updated on 21 Jun, 2024
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