KNR Construction - A Beneficiary Of Renewed Capex Cycle: ICICI Direct
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ICICI Direct Report
Infrastructure was one of the key areas of focus in Union Budget 2021-22. Within the same, road remained in a sweet spot with capital allocation for Ministry of Road Transport and Highways pegged at Rs 1,08,230 crore, up approximately 18% YoY, the highest ever for the ministry.
Most importantly, we are also enthused by the clear intent on monetisation of road assets by National Highways Authority of India, which we believe could drive an overall expansion in opportunities in the engineering, procurement, and construction space, given the ease in financing for NHAI.
KNR Construction Ltd. is likely to remain a key beneficiary of thriving road segment.
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