KEC’s weak announced order intake during FY2020 till date may lead to shortfall in its yearly guidance. However, execution during FY2020 is not expected to be materially affected due to its strong order backlog. The management sees traction in orders from Green energy corridor, RRTS, Railways, Civil government orders and few International regions to fructify during FY2020. Project tendering from PGCIL, Railway signaling, private industrial capex and Saudi Arabia continue to remain weak.

We maintain Buy on KEC International Limited (KEC) with revised price target of Rs. 325 with downward revision in FY2021E earnings and valuation multiple.



Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.

BITEK

Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.

Electronic Components Company, Electronic Chip Purchase - Xi Da,http://www.xida-electronics.com/