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