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Sharekhan Recommends This Stock To Buy For 23.3% Return, In 1 Year

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Sharekhan recommends stocks of KEC International Limited (KEC) to 'Buy' with a potential upside of 23.3%, in 1 year.

 

Target Price

Target Price

The Current Market Price (CMP) of KEC International Limited (KEC) is Rs. 458. The brokerage firm has estimated a Target Price for the stock at Rs. 565. Hence the stock is expected to give a 23.3% return, in a Target Period of 12 months.

Stock Outlook
Current Market Price (CMP)Rs. 458
Target PriceRs. 565
1 year return23.30%

Company performance

Company performance

In Q2FY2022, KEC International Limited (KEC) has reported broadly in-line revenues, and OPM while net profit has been impacted by a one-off write-off. The company's management retained 15% YoY revenue growth for FY2022 with OPM set to improve from Q4 with completion of legacy orders. Bid pipeline stayed robust at Rs. 60,000-65,000 crore across business with enhanced visibility in international orders.

Comments by Sharekhan
 

Comments by Sharekhan

According to Sharekhan, "We retain a Buy on KEC with a revised PT of Rs. 565, given its strong order backlog, healthy order inflow visibility, execution capabilities and diversified business model."

Commenting on the positive outlook of the company, the brokerage firm added, "Revenues from Civil/Cables/Railways were up 111%/43%/20% YoY.Š Order intake YTD was up 17% YoY at Rs. 7386 crores. Order book at all time high of Rs.

28,500 crore including L1 orders of Rs. 7500 crore and Rs. 600 crore in Spur Infra."

About the company

About the company

KEC International Limited is the flagship company of the RPG Group. A USD 1.8 billion Engineering, Procurement, and Construction (EPC) major, we deliver projects in key infrastructure sectors such as Power Transmission & Distribution, Railways, Civil, Urban Infrastructure, Solar, Smart Infrastructure, Oil & Gas Pipelines, and Cables.

Disclaimer

Disclaimer

The above stock has been picked from the brokerage report of Sharekhan. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article.

(Also read: 'Buy' This Stock For 17.1% Upside With A Target Price Of Rs. 275, In 1 Year)

Read more about: stocks to buy shares to buy
Story first published: Monday, November 15, 2021, 9:42 [IST]
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