KEC International is trading higher by 1.71% on the NSE after Japanese brokerage Nomura initiated coverage on the stock, with a buy call and a target price of Rs388, a 40% potential upside from current levels.
"The company's focus on growth with stable margins offers comfort and rising market share amid reduced ompetition is a key catalyst," the research house said.
Nomura expects a strong near-term growth and estimates 23% EPS CAGR over FY19-22 with broadly stable margin.
Stock view:
K E C International Ltd is currently trading at Rs282 up by Rs4.75 or 1.71% from its previous closing of Rs277.25 on the BSE.
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