Hold PTC India; target of Rs 95: Sharekhan

Sharekhan’s research report on PTC India

PTC India (PTC) net sales grew 24% y-o-y to Rs. 3925 crore driven by volume and realisation growth during the period. The companys realisation exceeded our expectation and stood at Rs. 3.3/unit, a growth of 7% y-o-y. Operationalisation and signing of numerous power purchase agreement to drive volumes.

Outlook

Stock price correction provides a good opportunity to long-term investor given the steady earnings, higher dividend yields and decent return ratios. Hence, we maintain our Hold with a revised price target of Rs. 95.

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