The Economic Times daily newspaper is available online now.

    Buy KNR Constructions, target price Rs 310: Motilal Oswal Financial Services

    Synopsis

    While the order inflows over the last couple of years have been tepid, the brokerage believes this strong tender pipeline can translate into decent order inflows for the company in the coming months.

    BuyThinkStock Photos
    KNR Constructions, incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 7268.51 Crore) operating in Infrastructure sector.
    Motilal Oswal Financial Services has buy call on KNR Constructions with a target price of Rs 310.The current market price of KNR Constructions is Rs 260.4.

    KNR Constructions, incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 7268.51 Crore) operating in Infrastructure sector.

    KNR Constructions key Products/Revenue Segments include Income From Contracts and Other Operating Revenue for the year ending 31-Mar-2022.

    Financials
    For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 971.58 Crore, down -1.92 % from last quarter Total Income of Rs 990.57 Crore and up 13.87 % from last year same quarter Total Income of Rs 853.23 Crore. Company has reported net profit after tax of Rs 98.51 Crore in latest quarter.

    The company’s top management includes Mr.B V Rama Rao, Mr.K Narasimha Reddy, Mr.K Jalandhar Reddy, Mrs.K Yashoda, Mr.L B Reddy, Mrs.G Chandra Rekha. Company has K P Rao & Co. as its auditors. As on 30-09-2022, the company has a total of 28 Crore shares outstanding.

    Investment Rationale
    The brokerage is of the view that the company's growth visibility beyond FY24 is likely to brighten notably. While the order inflows over the last couple of years have been tepid, the brokerage believes this strong tender pipeline can translate into decent order inflows for the company in the coming months.

    Promoter/FII Holdings
    Promoters held 51.09 per cent stake in the company as of 30-Sep-2022, while FIIs owned 5.73 per cent, DIIs 34.59 per cent.



    (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in