Buy KEC International: target of Rs 435: Sharekhan
Sharekhan is bullish on KEC International has recommended buy rating on the stock with a target price of Rs 435 in its research report dated December 30, 2020.
December 31, 2020 / 01:15 PM IST
Sharekhan's research report on KEC International
Pick-up in execution would ensure better performance in FY2021. Strong YTD order inflows and a Rs. 30,000-crore bidding pipeline offer visibility for remainder of FY21. Expect 1.4x and 2.5x y-o-y rise in revenue for rail and civil in FY2021. Rail division continues faster execution, while order tendering is gaining traction for railways and tendering in T&D is largely dominated by international market. YTD collections better than last year. Interest outgo contained with lower rate debt.
We retain a Buy on KEC International Limited (KEC) with an unchanged PT of Rs. 435, considering its improving operations and reasonable valuations.
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