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ICICI Securities Report
We are upgrading Ashoka Buildcon Ltd. to Buy on the premise of the deal being finalised; consequently, enabling Macquarie’s exit and removing an overhang on the stock.
Also, the stake sale has been worked out at a higher value than earlier anticipated. Alongside, we also raise our target price to Rs 311, based on SoTP method of valuation.
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Also Read: Sagility India IPO: Financials, Issue Details, Key Strengths, Risks And More — Anand Rathi
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