India's KNR Constructions up on earnings boost; analysts flag margin concerns

KNR Constructions

16/11/2023 06:33

** Shares of KNR Constructions  KNRL.NS  up 6.9% to 281.5
rupees
    ** Co's Sept-quarter consol net profit rose 27.8% Y/Y,
revenue up 7.9%
    ** Centrum Institutional Research notes diversification into
sectors and lower share of irrigation revenue will result in
margin contraction in FY24, FY25
    ** Antique Stock Broking points to order backlog of 57 bln
rupees ($684.80 million), says co can bill 35 bln to 40 bln
rupees for next two years
    ** PhillipCapital flags weak order book and soft upcoming
quarters in terms of execution on muted inflows in FY23 and slow
project awards in H1FY24
    ** Over 3 mln shares change hands as of 11:52 a.m. IST, 4.9X
the 30-day moving average
    ** Mean rating of 19 analysts is "buy"; median PT is 300
rupees - LSEG data
    ** Stock up 10.5% YTD

($1 = 83.2360 Indian rupees)
    

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))