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Last Updated : Jun 14, 2019 01:47 PM IST | Source: Moneycontrol.com

Buy KEC International; target of Rs 375: Sharekhan

Sharekhan is bullish on KEC International has recommended buy rating on the stock with a target price of Rs 375 in its research report dated June 12, 2019.

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Sharekhan's research report on KEC International


Company expected to increase its revenue contribution from non-T&D projects in long run. Management expects railway tenders to be finalised in Q2FY2020, while eyeing major civil projects arising from government spends. T&D business to grow steadily with focus on financially healthy state electricity boards and externally-funded projects. Geographical expansion to boost international order book.


Outlook


We reiterate our Buy rating on KEC; PT unchanged at Rs. 375. Strong order backlog and healthy order pipeline to help net earnings clock a 21% CAGR during FY2019-FY2021E.


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 Jun 14, 2019 01:47 pm
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