Buy KEC International: target of Rs 505: Sharekhan

Sharekhan is bullish on KEC International has recommended buy rating on the stock with a target price of Rs 505 in its research report dated February 22, 2021.

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Sharekhan’s research report on KEC International

A pick-up in execution would ensure better performance in FY2022 along with Rs. 30,000 crore bidding pipeline offer visibility for remainder of FY21 and FY22. The management expects to double the revenue over next four- five years as civil and railway revenues to provide next leg of growth while T&D largely dominated by international(SAE) to pick up as things improve followed by domestic T&D with recent order wins in green energy. YTD order inflows of ~Rs 8500 as on date crore along with order book and L1 positon of ~ Rs 26000 crore remains strong.

Outlook

We retain a Buy on KEC International Limited (KEC) with a revised PT of Rs. 505, considering its improving operations.

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