ICICI securities had given a price target of Rs. 320 in the month of May and revised it to Rs. 395 in just one month. The reason: Tailwinds due to TDP winning AP elections and the prospects of infra growth what CBN had promised in his previous term (some of the projects that NCC got during TDP regime in 2014-2019 got cancelled by YSR Party and collections etc.,)
Leaving aside the price targets, I am just curious to know if it is reasonable to have high expectations on the infra growth in Amaravati and rest of AP just because TDP is back in power that warrants a huge increase in price targets in just one month?
When the same TDP was in power from 2014 – 19, was there so much growth that actually happened on the infra side (or most of it was preparatory work like purchasing land, finalizing plans etc)?
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