Emkay Global has given a buy rating to KNR Constructions with a target price of Rs 289. The share price moved up by 0.29 per cent from its previous close of Rs 255.75. The stock’s last traded price is Rs 256.50.

KNR Constructions Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 3601.21 Crore) operating in Infrastructure sector.

For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 522.53 Crore, down 28.44 % from last quarter Sales of Rs 730.14 Crore and down 1.54 % from last year same quarter Sales of Rs 530.72 Crore. The Company reported net profit after tax of Rs 41.95 Crore in latest quarter.

Investment Rationale
With construction activities resuming on account of the easing of lockdown norms, the return of labor force, healthy order book and an aggressiveness in its business operations to meet its margins, the brokerage expects the company to have resumed normalized operations during the quarter.

Promoter/FII Holdings
Promoters held 55.17 per cent stake in the company as of March 31, 2020, while FIIs held 1.92 per cent, DIIs 32.45 per cent and public & others 10.35 per cent.

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