Nirmal Bang: Construction Sector Update - Earnings Drivers Gaining Momentum; Valuation Still Attractive
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Nirmal Bang Report
We believe that the construction sector stocks are set to outperform as earnings growth is set to pick up with increased execution coupled with reduction in working capital.
Strong orderbook, controlled working capital, ability to recycle capital through sale of assets and positive regulatory changes in the sector all bode well for these companies.
In this note, we look at various regulatory changes initiated by the National Highways Authority of India and its impact on the construction companies.
We have a positive view on the sector with ‘Buy’ rating on all the stocks under our coverage.
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