KOEL shares jump over 8% after Jefferies sets ₹2,815 target
Kirloskar Oil Engines (KOEL) got a solid boost on Monday, with shares jumping over 8% after investment bank Jefferies started coverage with a "Buy" call.
Jefferies thinks the stock could climb to ₹2,815, a potential gain of more than 26% from Friday's closing level.
KOEL hit an intraday high of ₹2,410 before cooling off a bit as traders locked in profits.
KOEL lands 192 MW HyperNext order
Jefferies pointed out KOEL's strong position as India's second-biggest player in diesel generator backups and its move into higher-margin, high-horsepower systems.
The company also landed a major 192 MW order in June from HyperNext, a hyperscale data center deployment that is among the largest in India for high-capacity power systems, another confidence booster for investors.
Looking ahead, Jefferies expects KOEL's earnings per share to grow at 22% annually during FY26-FY30, with returns on equity topping 20%.