JK Infra shares hit 52-week high as CLSA sees 50% upside potential

JK Infra share price NSE, J Kumar Infra share price target 2023, CLSA on JK Infra news: J Kumar Infraprojects shares on Tuesday, December 26, gained as much as 19.9 per cent to clock a 52-week high of Rs 593.5 apiece on the NSE, surpassing an earlier peak of Rs 506.95, which was touched last week after CLSA maintained its 'Buy' call on the counter, given raining urbanisation orders.

"Urbanisation Capex play is benefiting from climate-resistant infrastructure," the brokerage said in its note. The global brokerage has significantly raised the target price from Rs 385 to Rs 720 per share.

"With the rise in its new orders and our 11 per cent higher FY25CL EPS estimate, we also roll forward our valuation and see a rerating as the government delivers on urban Capex," the brokerage added.

The new target translates to an upside potential of nearly 50 per cent from the previous close. "JKIL is well placed to benefit from the megatrend of urbanisation with its competencies in metro rail and complex urban projects," it added.

What does J. Kumar Infrastructure Projects do?

J. Kumar Infraprojects is engaged in the business of executing contracts for various infrastructure projects, including transportation engineering, irrigation projects, civil construction, and piling work.

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