Buy KNR Constructions, target price Rs 292: Jayesh Bhanushali

Jayesh Bhanushali of IIFL has buy call on KNR Constructions with a target price of Rs 292. The current market price of KNR Constructions Ltd. is Rs 277.85 Jayesh Bhanushali recommended to keep stop loss at Rs 274.

KNR Constructions, incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 7850.66 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 30-06-2023, the company has reported a Consolidated Total Income of Rs 988.60 Crore, down -21.25 % from last quarter Total Income of Rs 1255.43 Crore and down -.20 % from last year same quarter Total Income of Rs 990.57 Crore. Company has reported net profit after tax of Rs 127.88 Crore in latest quarter.

Investment Rationale
The stock has given a consolidation breakout.

Promoter/FII Holdings
Promoters held 51.09 per cent stake in the company as of 30-Jun-2023, while FIIs owned 5.98 per cent, DIIs 33.66 per cent.