The document recommends buying shares of KEC International, an infrastructure company. It projects the stock price will rise 17.5% to Rs. 141 within 90 days. KEC International has outperformed the broader market in the last year, rising 48.4% compared to an 11.3% decline in the Nifty index. The company has strong financials with rising sales, profits, and EPS. For these reasons, the document recommends buying KEC International shares for short-term gains.

1. BUY TO SELL STOCKS FOR SHORT TERM GAINS
20th MARCH 2016
KEC INTERNATIONAL BUY POTENTIAL UPSIDE: 17.5%
CURRENT MARKET PRICE: 120.00 TARGET PRICE: 141.00
BSE Code 532714 Market Cap (Crores) 3093
NSE Code KEC P/E 17.72
Book Value 56.43 EPS 6.79
Face Value 2 Dividend Yield % 0.75
STOCK RECOMMENDATION

2. 15% @ 90 DAYS – MARCH 2016
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Comparative Chart (Last 1 Year)
Returns: KEC International & Nifty:
Nifty: -11.3% KEC International: 48.4%
Stock Resistance and Support:
1st Resistance – 127 1st Support – 112
2nd Resistance – 135 2nd Support – 102

3. 15% @ 90 DAYS – MARCH 2016
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Financials at a Glance:
Standalone Quarterly Results of KEC International (Rs. In Crores)
Particulars Dec 2015 Sep 2015 Jun 2015 Mar 2015
Audited / UnAudited UnAudited UnAudited UnAudited UnAudited
Net Sales / Income 1,602.28 1,409.58 1,376.82 1,860.55
Other Operating Income 23.65 22.47 19.23 30
Total Income From Operations 1,625.93 1,432.05 1,396.05 1,890.55
Consumption of Raw Materials 763.79 756.05 666.55 950.36
Purchase of Traded Goods -- -- -- --
Increase/Decrease in Stocks -17.51 -2.75 -10.68 16.72
Employees Cost 101.16 100.99 99.05 87.98
Depreciation 18.49 17.34 18.29 17.75
Admin. And Selling Expenses -- -- -- --
R & D Expenses -- -- -- --
Provisions And Contingencies -- -- -- --
Exp. Capitalised -- -- -- --
Other Expenses 652.7 528 545.67 718.43
Other Income 34.84 72.31 1.87 36.41
P/L Before Int., Excpt. Items & Tax 142.14 104.73 79.04 135.72
Interest 55.39 58.89 58.1 60.02
P/L Before Exceptional Items & Tax 86.75 45.84 20.94 75.7
Exceptional Items -- -- -- --
P/L Before Tax 86.75 45.84 20.94 75.7
Tax 30.52 12.84 12.3 31.84
Prior Year Adjustments -- -- -- --
Net Profit/Loss 56.23 33 8.64 43.86
Equity Share Capital 51.42 51.42 51.42 51.42
Reserves -- -- -- --
EPS 2.19 1.28 0.34 1.71
No Of Shares with Public (Crores) 12.72 12.72 12.75 12.82
Public Share Holding (%) 49.46 49.46 49.59 49.87

4. 15% @ 90 DAYS – MARCH 2016
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Basis of Recommendation:
i) Technical Analysis
Disclaimer:
Important Notice: Saral Gyan Capital Services is an Independent Equity Research Company.
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