Sharekhan has given Buy recommendation for KNR Constructions with a target price of Rs. 370 in its research report issued on Feb 15, 2022

Sharekhan’s research report on KNR Constructions

KNR Construction Limited (KNR) reported lower-than-expected execution for Q3FY2022; OPM surprised positively; Sale of stake in couple of projects boosts net earnings; Net working capital days reduced sequentially. Management expects FY2022 and FY2023 revenue at Rs. 3,100 crore and Rs. 3,500 crore, respectively. Management expects Rs. 2,000 crore-4,000 crore order inflows for Q4. FY2023 order intake conservatively pegged at Rs. 3,500 crore. Pending receivable reduced by Rs. 380 crore q-o-q. Standalone cash strong at Rs. 407 crore.

Outlook

We retain our Buy rating on KNR with a revised PT of Rs. 370, considering strong industry growth tailwinds.

More Info on KNR Constructions

At 09:29 hrs KNR Constructions was quoting at Rs 311.10, up Rs 0.40, or 0.13 percent.

It has touched an intraday high of Rs 311.70 and an intraday low of Rs 308.00.

It was trading with volumes of 1,687 shares, compared to its thirty day average of shares, a decrease of percent.

In the previous trading session, the share closed up 1.34 percent or Rs 4.10 at Rs 310.70.

The share touched its 52-week high Rs 343.55 and 52-week low Rs 189.30 on 01 September, 2021 and 27 April, 2021, respectively.

Currently, it is trading 9.45 percent below its 52-week high and 64.34 percent above its 52-week low.

Market capitalisation stands at Rs 8,749.21 crore.

 

Leave a Reply

Your email address will not be published.