K&R Rail Engineering tanks 41% in 3 days; plunges 73% from 52-week high

K&R Rail Engineering share price continued to trade under pressure on Wednesday, falling 20 per cent for the second straight day to Rs 169.80 per cent and hitting a two-year low on the BSE

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K&R Rail Engineering share price continued to trade under pressure on Wednesday, falling 20 per cent for the second straight day to Rs 169.80 per share and hitting a two-year low, on the BSE in the intraday trade amid heavy volumes. In three days, the stock price of the smallcap company has tanked 41 per cent. Further, it has plunged 73 per cent from its 52-week high level of Rs 637.20 touched on March 12, 2024.

 

At 09:34 AM, K&R Rail Engineering stock was quoting 19 per cent lower at Rs 172.45 as compared to an unchanged BSE Sensex at 74,104. The average trading volume on the counter jumped over five-fold with as many as 535,000 equity shares changing hands on the BSE, as against an average 101,000 equity shares that changed hands in the past two weeks, exchange data shows. 

 

On March 6, 2024, K&R Rail Engineering informed the stock exchanges that the company has entered into a memorandum of understanding (MoU) with Indian Port Rail and Ropeway Corporation to execute large scale projects, fostering seamless growth for both organisations within India and abroad.

 

The MoU includes the execution of major railways, roads, highways, ports and other projects of larger volume in range of Rs 50 crore to Rs 5,000 crore for mutual benefit and seamless growth of the organisations, K&R Rail Engineering and Indian port Rail and Ropeway Corporation within India and Abroad.  ALSO READ: PB Fintech shares fall 5% amid Rs 696 crore infusion in healthcare arm

 

K&R Rail Engineering is carrying on the business of providing end-to-end EPC services, which include earthwork, bridges & civil works, track works, overhead electrifications (OHE) works, signaling & telecommunication (S&T) works, railway operation & maintenance (O&M) consultancy in preparing detailed DPRs, and other allied activities, a statement said.

 

Meanwhile, as of December 2024, K&R Rail Engineering had a total of 28.5 million outstanding equity shares. The promoters held 44.98 per cent holding in the company. The remaining 55.02 per cent stake is with retail individual shareholders (47.96 per cent) and bodies corporate (6.07 per cent), shareholding pattern data shows.  ALSO READ: Nifty IT tanks 3%; Wipro, Infy slide up to 6% on Motilal Oswal downgrade

 

As per the disclosure made by K&R Rail Engineering, the promoters of the company have sold a combined 116,923 equity shares or 0.4 per cent stake of the company via open market in the past two weeks.

 

Financially, for the first nine months ended December 2024 (9MFY25), K&R Rail Engineering reported 7 per cent year-on-year (Y-o-Y) decline in profit after tax at Rs 14.55 crore, as against Rs 15.57 crore in 9MFY24. Revenue from operations was down 10 per cent Y-o-Y to Rs 455.61 crore from Rs 508.89 crore in the same period last fiscal.