Buy ITDCM at the price of 42.65/- with Target 77.50/-
Fundamental : ITD’s 3Q/9MFY20 order inflows have been robust at Rs 26/56bn ex Rs 3.5bn L1. Kolkata HC has given green signal to stuck Kolkata metro and ITD maintains no write offs in this project.
ITD has won new orders worth Rs 56bn (9MFY20) taking total order book to Rs 126bn. Bid pipeline is strong at Rs 120bn with 50%+ marine projects up for grabs. ITD expects Rs 60bn of new wins to move into execution over next 6months, with revenue run rate hitting Rs 10bn/qtr from 2QFY21.
Technical :
ITDCEM
Looks a Nice Buy on 42.65 area, as its complete AB=CD pattern there .
ITD has won new orders worth Rs 56bn (9MFY20) taking total order book to Rs 126bn. Bid pipeline is strong at Rs 120bn with 50%+ marine projects up for grabs. ITD expects Rs 60bn of new wins to move into execution over next 6months, with revenue run rate hitting Rs 10bn/qtr from 2QFY21.
Technical :
ITDCEM
Looks a Nice Buy on 42.65 area, as its complete AB=CD pattern there .
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