Buy KEC International, target price Rs 440: Yes Securities

Yes Securities has buy call on KEC International with a target price of Rs 440. The current market price of KEC International Ltd. is Rs 422.75. Time period given by analyst is Intra Day when KEC International Ltd. price can reach defined target.

KEC International Ltd., incorporated in the year 2005, is a Mid Cap company (having a market cap of Rs 10864.55 Crore) operating in Power sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 4372.87 Crore, up 32.79 % from last quarter Total Income of Rs 3293.14 Crore and up 19.03 % from last year same quarter Total Income of Rs 3673.73 Crore. Company reported net profit after tax of Rs 194.30 Crore in latest quarter.


Investment Rationale
Recent decline found renewed buying interest near 50-day average, and since then it is holding ground above levels of Rs 410. Sustenance could lift the stock towards the Rs 440 zone.

Promoter/FII Holdings
Promoters held 51.8 per cent stake in the company as of March 31, 2021, while FIIs held 10.8 per cent, DIIs 25.6 per cent and public and others 11.9 per cent.