KEI Industries rose 2.56% to Rs 124.30 at 10:46 IST on BSE after the company said it signed technical collaboration agreement with Switzerland's Brugg Kabel AG.
The announcement was made after market hours yesterday, 19 December 2016.Meanwhile, the BSE Sensex was up 28.24 points, or 0.11%, to 26,402.94.
On the BSE, so far 69,000 shares were traded in the counter, compared with average daily volumes of 1.10 lakh shares in the past one quarter. The stock had hit a high of Rs 127 and a low of Rs 122.80 so far during the day.
The stock hit a 52-week high of Rs 139.50 on 10 November 2016. The stock hit a 52-week low of Rs 86 on 29 February 2016. The stock had outperformed the market over the past 30 days till 19 December 2016, rising 4.17% compared with the 0.86% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 6.46% as against Sensex's 7.53% decline.
The small-cap company has equity capital of Rs 15.56 crore. Face value per share is Rs 2.
KEI Industries has signed a foreign technical collaboration agreement with Brugg Kabel AG, a Switzerland-based 116 years old group, to manufacture extra high voltage cables above 220 kilovolt (kV) and up to 400kV at its manufacturing plant / facility located at Chopanki in Rajasthan.
The above technical collaboration agreement will allow KEI complete know-how transfer which shall include design, manufacturing, testing, techniques, training of its manufacturing / design personnel in manufacturing of cables along with jointing techniques as also complete EHV system design (design/manufacture/installation/testing & commissioning) of EHV cables.
Net profit of KEI Industries rose 49.1% to Rs 22.90 crore on 2.1% rise in net sales to Rs 620.65 crore in Q2 September 2016 over Q2 September 2015.
KEI Industries is a cable manufacturing company. It offers high and low tension cables, control and instrumentation cables, house wires and stainless steel wires, and high-technology specialty cables.
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