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Multibagger Stock: Brokerage house Emkay has given ‘Buy’ rating on the multibagger stock HG Infra Engineering. The stock has risen 188 per cent year-to-date in 2021. Emkay has kept the target price of the stock at ₹ 820 for a period of 12 months.

The brokerage firm said in its note, “Improved order winning ability, cost-cutting, digital initiatives, long-term diversification efforts and margin stability despite inflation support our positive outlook on the company. We anticipate 16% EPS CAGR for FY 22-24 in line with consensus expectations.”

Emkay on his note on HG Infra further said, “The impressive performance over the last few quarters has led to ~20% upgrade in FY22/23E EPS by Street over the last six months, bringing the consensus forecast in line with our optimism. “

However, key risks as per the brokerage include significant slowdown in providing activity in road/non-road segments, margin impact from commodity inflation in H2 and HAM monetization at sub-optimal valuations.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from Also investing money is never advised here.)

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