Robust order book to drive growth for KNR Constructions - brokerage

KNR Constructions

30/12/2022 04:49

** Shares of India's KNR Constructions  KNRL.NS  rise as
much as 4.52% to 259 rupees
    ** Domestic brokerage firm Motilal Oswal says co's strong
order pipeline in road segment improves growth visibility beyond
FY 2023-24
    ** Co has an order book of 80 bln rupees ($967.27 million)
and aims to win projects worth 30 bln rupees to 40 bln rupees in
the next three months: Motilal Oswal
    ** KNR Constructions has the best balance sheet among
mid-cap road engineering, procurement and construction firms and
strength in balance sheet will likely help firm weather any
downturn: Motilal Oswal
    ** Brokerage has a "buy" rating on stock and PT of 310
rupees, an implied upside of 25% from the last close of 248
rupees
    ** Trading volume stood at 304,507 shares as of 9:43 a.m.
IST, more than the 30-day avg of 299,895 shares
    ** Out of 19 analysts tracking co, 17 rate "buy" and two
suggest "sell"; average PT is 304 rupees
($1 = 82.7070 Indian rupees)
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))