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Motilal Oswal Report
KEC International Ltd. in its annual analyst meet highlighted a strong addressable market for transmission and distribution and improving opportunities for the civil segment.
The company is continuously focusing on profitable growth and targeting reduction in net working capital cycle on improved collections. We expect KEC International to continue to benefit from the prospect pipeline in T&D and thus, maintain our estimates.
We retain our Neutral rating on the stock with a target price of Rs 710, based on 18 times two-year forward earnings.
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