KEC International has target of Rs 85: Rajesh Jain

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KEC International has target of Rs 85: Rajesh Jain

KEC International has target of Rs 85, says Rajesh Jain, Independent Market Strategist.

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KEC International has target of Rs 85, says Rajesh Jain, Independent Market Strategist.

Jain told CNBC-TV18, "KEC International would be my power sector pick for an intraday target of Rs 85. Last year when it has acquired SAE Towers in the US with significant presence of business in Mexico and Brazil as well it was expected that the acquisition would be EPS accretive. The acquisition has lived up to expectations."

He further added, "The company continues to grow sales at close to 15-20% with a commensurate growth rate in bottomline as evidenced in the last quarterly numbers there has been a very strong accretion to the order book and given the recent spate of activity in Power Grid, we expect KEC to be an immediate beneficiary. KEC also has hidden upsides from it ability to use its towers for the telecom sector."