ICICI Direct has a buy call on KNR Constructions with a target price of Rs 270 for a time frame of 12 months. The current market price of KNR Constructions is Rs 233.35.
Shares of KNR Constructions hit a record high of Rs 475 after they rallied 17 per cent on the BSE in Tuesday s intra-day session ahead of the bonus issue share issue. The stock has surged 29 per cent in the past two days. The company will allocate bonus shares in the ratio of 1:1 i.e. one bonus share for every one share held in the company on the record date. The Executive Finance Committee of the company has fixed Thursday, February 4, as the record date for the purpose of proposed bonus issue. The stock will turn ex-date for bonus issue on Wednesday, February 3.