0730 GMT - PNC Infratech's project execution likely remains key to revenue growth, Axis Securities analysts say in a research report. Management expects FY 2026 revenue to decline by 10%, mainly due to slower project execution caused by delays in receiving appointed dates for projects, the analysts note. The National Highways Authority of India plans to award more projects, while revising project execution norms and streamlining the land acquisition process to quicken overall execution, the analysts say. However, the slower pace of awarding of projects is still a major concern for the sector. The brokerage lowers the stock's target price to INR240.00 from INR290.00 with an unchanged hold rating. Shares are down 2.0% at INR219.25. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 12, 2026 02:30 ET (07:30 GMT)
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