Budget 2023Budget 2023


  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
Budget 2023
Budget 2023

Buy KNR Constructions; target of Rs 290: ICICI Direct

ICICI Direct is bullish on KNR Constructions recommended buy rating on the stock with a target price of Rs 290 in its research report dated November 16, 2022.

November 30, 2022 / 03:46 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on KNR Constructions

KNR Constructions is one of the leading companies in the roads and highways sector having executed 6,000+ lane km of projects across 12 states in India. The company also has an established presence in irrigation and urban water infrastructure management. Reported 16.3% revenue CAGR over FY17-22 and has consistently delivered industry-leading operating margin of ~20% throughout past three years • Prudent management, robust return ratios (RoCE: 20%+).


While near term execution could be muted, we expect the same to pick up pace by FY23 end. We maintain our BUY rating on the company. We value KNR at Rs 290/share.