KEC International drops on profit booking

KEC International fell 2.23% to Rs 231.90 at 14:19 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 89.44 points, or 0.3% at 30,161.54. The S&P BSE Mid-cap index was down 116.23 points, 0.78% at 14,840.90.

On the BSE, 50,000 shares were traded on the counter so far as against the average daily volumes of 1.21 lakh shares in the past one quarter. The stock had hit a high of Rs 239 and a low of Rs 231.55 so far during the day.

The stock had hit a record high of Rs 253.10 on 11 May 2017 and a 52-week low of Rs 111.20 on 9 November 2016. The stock had outperformed the market over the past one month till 11 May 2017, advancing 11.15% compared with the Sensex's 1.55% rise. The scrip had also outperformed the market over the past one quarter advancing 44.81% as against the Sensex's 6.76% rise.

 

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

KEC International had rallied 12.12% in the preceding four trading sessions to settle at Rs 237.20 yesterday, 11 May 2017, from its closing of Rs 211.55 on 5 May 2017.

KEC International's consolidated net profit spurted 139% to Rs 62.60 crore on 7.5% decrease in net sales to Rs 1882.44 crore in Q3 December 2016 over Q3 December 2015.

KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, cables, railways, renewables and civil.

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