KEC International rallies 12% in 2 days on acquisition of Spur Infra

This acquisition will enable the company to accelerate growth in oil & gas sector and establish this business as one of its key growth drivers going forward

Shares of KEC International were up 7 per cent to Rs 467.95 on the BSE in the intra-day trade on Tuesday, surging 12 per cent in past two trading days, after the company entered into a definitive agreement to acquire 100 per cent equity in Spur Infrastructure for an enterprise value of Rs 62 crore. The acquisition is expected to be completed within 60 days from the date of agreement.

The stock of the infrastructure Engineering, Procurement and Construction (EPC) major, an RPG Group Company, had hit a 52-week high of Rs 486.45 on March 3, 2021. Trading volumes