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Last Updated : Nov 11, 2019 04:45 PM IST | Source: Moneycontrol.com

Buy KEC International target of Rs 325: Sharekhan

Sharekhan is bullish on KEC International has recommended buy rating on the stock with a target price of Rs 325 in its research report dated November 08, 2019.

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Sharekhan's research report on KEC International


KEC clocked healthy revenue growth driven by strong execution in T&D and railways, with stable OPM. Healthy operational performance along with lower tax outgo resulted in strong net earnings growth. The management reiterated its guidance for 15-20% revenue growth with stable OPM and KEC is expected to deliver strong growth on increased scalability in non-T&D business and stable execution in the T&D business. Order inflows may fall short of yearly guidance of Rs. 17,000 crore due to slow tendering. However, execution in FY2020 is not expected to be materially affected due to its strong order backlog.


Outlook


We maintain a Buy rating on KEC International Limited (KEC) with an unchanged price target of Rs. 325.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



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First Published on Nov 11, 2019 04:45 pm
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