J Kumar Infraprojects gains 4% as CLSA sees 44% upside despite flat Q2 earnings
J Kumar Infraprojects share price rallied as much as 4.5 percent in morning Thursday after CLSA has retained its buy call on the stock despite company’s flat second quarter earnings.
The research house has set a target price for the stock at Rs 355 per share, implying a whopping 43.8 percent upside to Wednesday’s closing price.
Margin expansion in Q2 was led by better mix & cost control in materials.
The research house believes clearances for JNPT & Metro execution will lead to 23 percent revenue CAGR over FY17-20 and forecasts 26 percent EPS CAGR over FY17-20.
At 09:44 hours IST, the stock price was quoting at Rs 252.00, up Rs 5.10, or 2.07 percent.