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Jyoti Structures
Jyoti Structures is basically riding proxy on the entire power capex that the country is undergoing right now, both on the generation and the transmission side. Jyoti Structures is, of course, a big player on the transmission side doing significant amount of work on the transmission line towers etc. The company has been doing very well, very strong management, order book upwards of Rs 2,000 crore, expecting a 40% growth in PAT and EPS over the next two years. So, it looks quite good.
Valuations; I would say are not entirely cheap. But then there is decent visibility. Moreover, in most pre-election years, we have seen demand really perking up. We expect that to happen this year also and the next year. Power, as we all know, is a focus area for the government. Therefore we expect Jyoti Structures to be one of the major beneficiaries in this entire capex move.
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