KEC International recovers on bargain hunting

KEC International rose 1% to Rs 55.60 at 14:28 IST on BSE, with the stock recovering on bargain hunting after 2-day 6.53% slide.

Meanwhile, the S&P BSE Sensex was up 14.91 points or 0.08% at 18,465.14.

On BSE, 6,457 shares were traded in the counter as against average daily volume of 63,253 shares in the past one quarter.

The stock hit a high of Rs 56.35 and a low of Rs 55.20 so far during the day. The stock had hit a 52-week high of Rs 80.70 on 29 October 2012. The stock had hit a 52-week low of Rs 47.30 on 1 March 2013.

The stock had outperformed the market over the past one month till 5 April 2013, surging 14.33% compared with the Sensex's 3.62% fall. The scrip had, however, underperformed the market in past one quarter, declining 20.79% as against Sensex's 6.74% fall.

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

Shares of KEC International had declined 6.53% in two trading sessions to settle at Rs 55.05 on Friday, 5 April 2013, from a recent high of Rs 58.90 on 3 April 2013.

KEC International on 1 April 2013 said it has secured new orders worth Rs 914 crore in its transmission, power systems and cables businesses from India and International markets.

KEC International's consolidated net profit declined 63.6% to Rs 29.33 crore on 23.8% growth in net sales to Rs 1772.56 crore in Q3 December 2012 over Q3 December 2011.

KEC International is global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission, power systems, cables, railways, telecom and water. The company has powered infrastructure development in 48 countries across South Asia, Middle East, Africa, Central Asia and Americas. It is the flagship company of the RPG Group

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