New order boosts KEI Inds
KEI Industries rose 4.35% to Rs 110.40 at 10:55 IST on BSE after the company said it has secured an order worth Rs 384.53 crore from Power Grid Corporation of India.
The announcement was made on Friday, 25 December 2015. The stock market was closed on that day on account of Christmas.
Meanwhile, the S&P BSE Sensex was up 128.55 points or 0.5% at 25,967.26.
On BSE, so far 98,000 shares were traded in the counter as against average daily volume of 1.23 lakh shares in the past one quarter.
The stock hit a high of Rs 112.50 and a low of Rs 109.70 so far during the day. The stock had hit a 52-week high of Rs 121.70 on 20 August 2015. The stock had hit a 52-week low of Rs 42.90 on 26 December 2014.
The stock had underperformed the market over the past one month till 24 December 2015, sliding 5.45% compared with Sensex's 0.24% rise. The scrip had, however, outperformed the market in past one quarter, jumping 6.44% as against Sensex's 0.1% fall.
The small-cap company has equity capital of Rs 15.45 crore. Face value per share is Rs 2.
KEI Industries said the order is for supply and service contracts for package A & B under integrated power development scheme (IDPS) works in Varanasi, Uttar Pradesh.
KEI Industries' net profit rose 65.9% to Rs 15.36 crore on 21% growth in net sales to Rs 607.97 crore in Q2 September 2015 over Q2 September 2014.
KEI Industries is a leading player in the wires and cables industry.
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