Time period given by analyst is three months when KNR Constructions Ltd. price can reach defined target.
KNR Constructions Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 8704.21 Crore) operating in Infrastructure sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 812.09 Crore, down -18.83 % from last quarter Total Income of Rs 1000.44 Crore and up 53.36 % from last year same quarter Total Income of Rs 529.52 Crore. Company reported net profit after tax of Rs 102.81 Crore in latest quarter.
Investment Rationale
The share price of KNR Construction witnessed elevated buying demand after retracing its July-August up move (Rs 260-344) offering favourable risk-reward setup. The stock is forming a higher base above Rs 300, which is 50% retracement of July-August rally and value of 10 week EMA (285). It has held its 10-week EMA on multiple occasions over the past one year. Going ahead, the brokerage expects the stock to continue its positive momentum and head towards Rs 365 as it is the 161.8% external retracement of recent decline (Rs 344-301).
Promoter/FII Holdings
Promoters held 53.3 per cent stake in the company as of June 30, 2021, while FIIs held 2.3 per cent, DIIs 34.4 per cent and public and others 10.1 per cent.
(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
