10 stocks to watch out for in 2020 - Photos-1
Business Today

10 stocks to watch out for in 2020

PNC Infratech

Target price:
Rs 240

The company has a strong order book and witnessed stellar revenue growth in the last financial year. It has an excellent track record of early execution of projects and debtor days have improved significantly. Management has revised upwards its revenue growth guidance to 50-60% for FY20. The debt to equity ratio is at a very comfortable level despite having a strong order book growth.
Technically, after breaking out from its downward sloping trend, it is continuing its upward journey where it has outperformed the midcap index. In the downside, 200-DMA of 180 has become a strong base while in the upside, it is likely to break out of the previous high of 228 where 240 would be the next target.

(Recommended by Santosh Meena, Senior Analyst, TradingBells)