ICICI Direct has given Buy recommendation for KEC International with a target price of Rs. 540 in its research report issued on Sep 15, 2022

ICICI Direct’s research report on KEC International

KEC International (KEC) is one of the EPC majors in key infrastructure sectors such as power T&D, railways, civil, urban infrastructure, solar, smart infrastructure, oil & gas pipelines and cables. A strategic shift in portfolio from T&D to non-T&D (13% contribution in FY16 increased to 50% in FY22) • T&D diversified across countries with entry in ~20 countries in last five years.

Outlook

We remain long term positive and change our rating from HOLD to BUY. We value KEC at Rs 540 i.e. 17x P/E on FY24E EPS.

More Info

At 15:41 hrs KEC International was quoting at Rs 427.50, down Rs 23.10, or 5.13 percent.

It has touched an intraday high of Rs 455.65 and an intraday low of Rs 423.05.

It was trading with volumes of 54,730 shares, compared to its thirty day average of 45,170 shares, an increase of 21.16 percent.

In the previous trading session, the share closed up 3.51 percent or Rs 15.30 at Rs 450.60.

The share touched its 52-week high Rs 550.00 and 52-week low Rs 345.15 on 26 October, 2021 and 12 May, 2022, respectively.

Currently, it is trading 22.27 percent below its 52-week high and 23.86 percent above its 52-week low.

Market capitalisation stands at Rs 10,990.53 crore.

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