Multibagger stock, July 26 -- Brokerage firm Nuvama has initiated coverage on AGI Infra with a 'buy' recommendation due to ongoing and upcoming projects, anticipated high cash flows, and increasing demand for residential property.

Shares of the construction company closed 1.29 per cent higher at Rs.1,066.9 on the BSE index after Friday's stock market session, compared to Rs.1.053.35 at the previous market close.

"We initiate coverage with a 'BUY' rating and a TP of INR1,448, valuing the stock at 1x FY26E NAV. AGI Infra (AGIIL) is among the few reputed real estate players in Punjab, with a dominant presence in Jalandhar, aided by a strong track record of well-received, high-quality projects," Nuvama said.

Operating in a market with limi...