Broking firm Prabhudas Lilladhar is bullish on KEC International has put a buy rating on the stock.
"The stock is trading at 7.3x FY14E earnings. We believe that a strong order book, continuing growth in order pipeline and ability to win orders in the current environment gives comfort on revenue visibility. We believe that margins have bottomed out and will improve from here on. We maintain our buy rating on the stock," says Prabhudas Lilladher in its research report.
Broking firm KR Choksey has placed a hold call on Andhra Bank.
"In 3QFY13, Andhra Bank reported weak net earnings of Rs 257 crore (down 15.2% Y-o-Y & 21.1% Q-o-Q); below our expectation. NII saw de-growth of 1.3% y-o-y & up 8.7% sequentially mainly due to slowing business growth. NIM expanded 22bps Q-o-Q to 3.35% on the back of lower interest reversal and decline in cost of funds. Core fee income increased 19% Q-o-Q thanks to seasonal factors like rent on lockers. Trading gains were flat Q-o-Q to Rs29.1 crore contributing 12% of non interest income. Advance grew at 14% Y-o-Y while deposit growth was slightly higher than industry at 13.9%. The bank has restructured loans amounting to Rs1318 crore (1.5% of advances) mainly attributable to sugar, infrastructure, textiles & iron and steel segment while slippages were Rs453crore (2.0%). CASA ratio stood at 26%, up 11bps q-o-q. Maintain HOLD," the firm has stated.