KEC International extends recent gains

KEC International rose 3.15% to Rs 280 at 12:29 IST on BSE, with the stock extending yesterday's gains triggered by the company securing new orders.

Meanwhile, the S&P BSE Sensex was up 136.59 points, or 0.43% at 31,852.23. The S&P BSE Mid-Cap index was up 8.43 points, or 0.06% at 15,049.97.

On the BSE, 1.18 lakh shares were traded on the counter so far as against the average daily volumes of 1.09 lakh shares in the past one quarter. The stock had hit a high of Rs 281.25 and a low of Rs 273.15 so far during the day. The stock had hit a record high of Rs 283.50 on 1 June 2017 and a 52-week low of Rs 111.20 on 9 November 2016.

The stock had outperformed the market over the past one month till 10 July 2017, advancing 4.42% compared with the Sensex's 1.45% rise. The scrip had also outperformed the market over the past one quarter advancing 26.93% as against the Sensex's 7.24% rise. The scrip had also outperformed the market over the past one year advancing 87.79% as against the Sensex's 16.92% rise.

The mid-cap company has equity capital of Rs 51.42 crore. Face value per share is Rs 2.

Shares of KEC International have gained 4.81% in two trading sessions from its close of Rs 266.80 on 7 July 2017 after the company before market hours yesterday, 10 July 2017 said that the company secured new orders worth Rs 1,845 crore. The stock had rallied 1.74% to settle at Rs 271.45 yesterday, 10 July 2017.

The stock had also surged 4.24% in a single trading session to settle at Rs 266.80 on 7 July 2017.

KEC International's consolidated net profit rose 90.5% to Rs 145.56 crore on 11.3% increase in net sales to Rs 2849.20 crore in Q4 March 2017 over Q4 March 2016.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, cables, railways, renewables and civil.

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