Nomura has maintained its Buy rating on KEC International with a target price of ₹985, following its annual investor day, where the tone was broadly in line with prior management commentary.
The order pipeline remains healthy at ₹1.8 lakh crore, with ₹90,000 crore in T&D (Transmission & Distribution) alone.
Nomura expects healthy growth in the domestic T&D segment over the next 3–4 years. Additionally, the company is targeting over ₹3,000 crore revenue from the cables business in the next two years.
The brokerage believes this strong pipeline and diversified growth plans will underpin robust performance going forward.
Disclaimer: The views and target prices mentioned in this article are as stated by Nomura. They do not represent the opinions or recommendations of this publication. Readers are advised to consult their financial advisors before making any investment decisions.
