KEC International recovers on bargain hunting

KEC International rose 1.77% to Rs 74.85 at 11:53 IST on BSE, with the stock recovering on bargain hunting after recent steep slide.

Meanwhile, the S&P BSE Sensex was up 28.34 points or 0.1% at 27,485.92.

On BSE, so far 48,000 shares were traded in the counter as against average daily volume of 1.43 lakh shares in the past one quarter.

The stock hit a high of Rs 75.45 and a low of Rs 73.65 so far during the day. The stock had hit a 52-week high of Rs 153 on 8 July 2014. The stock had hit a 52-week low of Rs 65.50 on 26 March 2014.

The stock had underperformed the market over the past one month till 26 March 2015, sliding 12.75% compared with the Sensex's 4.48% fall. The scrip had also underperformed the market in past one quarter, declining 17.64% as against Sensex's 0.79% rise.

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

Shares of KEC International had declined 11.96% in five trading sessions to settle at Rs 73.55 yesterday, 26 March 2015, from a recent high of Rs 83.55 on 19 March 2015.

On consolidated basis, KEC International's net profit rose 246.9% to Rs 66.43 crore on 7.3% decline in net sales to Rs 2021.19 crore in Q3 December 2014 over Q3 December 2013.

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.

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