The brokerage is positive on CCRI’s prospects and believe that it is best positioned to capitalize on favorable infrastructure‐related tailwinds. It remains positive on the structural growth story considering 1) continual market share gains in domestic segment 2) strong EXIM volumes, and 3) new strategic initiatives. At CMP, the stock trades at a P/E of 24.3x/20.5x FY23E/FY24E earnings and at an EV of 14.6x/12.5x FY23E/FY24E EBITDA.
