Moneycontrol
Get App
Last Updated : Apr 05, 2018 05:58 PM IST | Source: Moneycontrol.com

Buy KNR Constructions; target of Rs 348: Kotak Securities

Kotak Securities is bullish on KNR Constructions has recommended buy rating on the stock with a target price of Rs 348 in its research report dated March 07, 2018.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Kotak Securities' research report on KNR Constructions


KNR Constructions, a strong player in road construction in south is focusing on growing its order book by adding new projects in road sector. The company has been awarded first Hybrid Annuity project (HAM) from NHAI of value Rs 10.2 bn in the state of Tamil Nadu. This is the first major road project bagged by the company in FY18E and would strengthen its order book  to ~Rs 43 bn from Rs 33.3 bn at the end of Q3FY18.

Outlook

The construction business of the company is available at PE of 17.6x and 15.1x, based on FY19E and FY20E revised EPS of Rs 15 and Rs 17.5 respectively, after adjusting for BOT value of Rs 33 per share. We upgrade our rating on the stock to Buy (from Accumulate) due to recent correction and maintain target price of Rs 348 based on SOTP valuation.

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.



Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!

First Published on Mar 7, 2018 03:49 pm
Sections
Follow us on