Brokerage firm claims – this stock can give 23.3% return in one year, would you bet
Multibagger Stock: Brokerage firm Sharekhan had recommended to ‘buy’ the shares of KEC International Limited with a potential gain of 23.3% in 1 year. The current market price (CMP) of KEC International Limited (KEC) is Rs 458. The brokerage firm has set a target price of Rs 565 for the stock. The stock is expected to give 23.3% return in the target period of 12 months.
company performance
In Q2FY2022, KEC International Limited (KEC) has reported broadly in-line revenue and OPM, while net profit has been impacted by one-time write-off. The company’s management has maintained 15% year-on-year revenue growth for FY12, which is set to improve from Q4 with the completion of OPM legacy orders.
what sharekhan said,
According to brokerage firm Sharekhan, “Given its strong order backlog, healthy order inflow visibility, execution capabilities and diversified business model, we maintain a ‘buy’ rating on KEC with a revised target price of Rs 565.” Commenting on the company’s positive outlook, the brokerage firm said, “Revenue from Civil/Cables/Railways was up 111%/43%/20% YoY. Order Intake YTD was up 17% YoY at Rs.7386 Crore. Order Book so far. The highest level is Rs 28,500 crore, which includes Rs 7500 crore in L1 order and Rs 600 crore in Spur Infra.”
about the company
KEC International Limited is the flagship company of RPG Group. The US$1.8 billion engineering, procurement and construction (EPC) major delivers projects in key infrastructure sectors such as power transmission and distribution, railways, civil, urban infrastructure, solar, smart infrastructure, oil and gas pipelines and cables.
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