Sharekhan has given Buy recommendation for KEC International with a target price of Rs. 610 in its research report issued on Feb 08, 2022

Sharekhan’s research report on KEC International

In Q3FY2022, KEC International Limited (KEC) reported broadly in-line revenues while net earnings lagged owing to lower-than-expected OPM and higher interest expense. Management expects T&D revenues to grow in double digits in FY2023 while rail/civil/oil & gas segments are likely to clock a 15-20%/50%/150-200% y-o-y growth. OPM expected to normalise from H2FY2023. YTD order inflow doubled y-o-y leading to a strong order backlog at Rs. 28,500 crore including L1. It may end up with an order intake of Rs. 14000-18,000 crore for FY2023.

Outlook

We retain a Buy on KEC with a revised PT of Rs. 610, given its strong order backlog, healthy order inflow visibility, execution capabilities and diversified business model.

More Info on KEC International

At 17:30 KEC International was quoting at Rs 474.70, down Rs 6.95, or 1.44 percent.

It has touched an intraday high of Rs 482.75 and an intraday low of Rs 466.35.

It was trading with volumes of 15,280 shares, compared to its thirty day average of shares, a decrease of percent.

In the previous trading session, the share closed down 0.77 percent or Rs 3.75 at Rs 481.65.

The share touched its 52-week high Rs 550.00 and 52-week low Rs 368.00 on 26 October, 2021 and 06 May, 2021, respectively.

Currently, it is trading 14.03 percent below its 52-week high and 28.49 percent above its 52-week low.

Market capitalisation stands at Rs 12,203.98 crore.

 

Leave a Reply

Your email address will not be published.