This multibagger stock has risen 188 percent in 2021, did you buy?

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 further on his note on HG Infra 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.

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