Budget 2020 MyPick: Choose this stock with power packed order book, say market experts
Budget 2020 is around the corner and investors in stock markets are keen to find out, and benefit from, finding out what stocks may be impacted by the announcements of FM Nirmala Sitharaman as well as the talk on the street ahead of February 1, 2020 D-day.
Budget 2020 is around the corner and investors in stock markets are keen to find out, and benefit from, finding out what stocks may be impacted by the announcements of FM Nirmala Sitharaman as well as the talk on the street ahead of February 1, 2020 D-day. By keeping the expected announcements of Budget 2020 in mind, Zee Business market experts have suggested KEC international stock for investors. According to experts, this stock will bring higher returns soon. Here's how!
KNOW ABOUT KEC INTERNATIONAL COMPANY
KEC international company is India's second leading manufacturer of Electronic Power Transmission towers and power transmission. Along with Company Transmission and Distribution, the company is focusing to expand itself in other businesses. The company's revenue also flows from from Non Transmission Business, which has been doubled within a year. Right now, its focusing on Rail business where its revenue have been doubled within a year too.
POWER PACKED ORDER BOOK OF KEC INTERNATIONAL
When its comes the order book, KEC international has performed brilliantly! The order book of this company is 15-20% for the financial year 2020. The volume of the present order book is above Rs 18,000 crore and as compares to the last year, the company has done one and the half times better this year! Also, it is expected to get more order book worth Rs 5000 crore.
In last two and a half months, company has received orders of Rs 4500 crore. Order of Rs 1635 crore has been received from T&D business, order of Rs 2670 crore from Railways and Order of Rs 150 Crore from the cable business.
If we talk about profit, In the year of 2016, the company achieved a profit of Rs 148 crore which increased to 305 crore in 2017. It was Rs 460 crore in 2018 which has again increased to Rs 496 crore in 2019.
WHAT BROKERS THINK ABOUT THIS STOCK?
Top brokers in the market have suggested that investors can look at investing this stock. The current price of this stock is Rs 321. Nomura is suggesting to sell when stock reaches to Rs 388 target, whereas Alara is suggesting to sell it at Rs 421. SBI capital has suggested to add it in your portfolio when its reaches to 396.