In a special edition of Budget My Pick with Zee Business Managing Editor Anil Singhvi, Anand Rathi’s Head and Vice President of Equity Sales & Products Support, Siddharth Sedani recommended PNC Infra to pick before Budget 2022 for good returns as the company has a strong order book, balance-sheet. 

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Infrastructure has always been in a limelight during the Budget, said Sedani and believed even this time the government to give a mega push to the infra sector, and hence suggests to Buy PNC Infra for one year with a target price of Rs 389 per share, upside of 38 per cent. The current price is Rs 282 apiece on Monday. 

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The market analyst expects the order book of the company to be strong in this year and next year too. Besides, the execution of the company is splendid too and even the balance sheet of the realty company is robust too, according to Sedani. 

The asset monetization plan of the government will have a direct benefit to PNC Infra. For example, Ghaziabad-Aligarh Expressway also falls under the ambit of asset monetization. The company may get huge drinking water project orders from Uttar Pradesh, Sedani further said.  

He expected that the infra company’s order book will improve further in the second half of this calendar year and believed that the company showed growth in the margins of the results.  

The stock on Monday corrected almost 6 per cent to Rs 282 per share on the BSE as compared to a 2.62 per cent dip in the BSE Sensex. The stock in the last one year has gained almost 51 per cent as compared to a 19 per cent rise in the S&P BSE Sensex during the same period. 

The Union Budget 2022 is scheduled to be presented on February 1, 2022, by the finance minister Nirmala Sitharaman in Parliament. And, majority of the analysts believe the infra sectors will have major announcements in the upcoming budget.