KEC International Stock Rises After Bagging Orders Worth Rs 1,007 Crore
The deals include the construction of a multispecialty hospital in India, and supply of cables in India and overseas.
Shares of KEC International Ltd. rose on Monday after it secured new orders of Rs 1,007 crore across various businesses.
The deals include the construction of a multispecialty hospital in India, 380 kV overhead transmission line in the Middle East and supply of cables in India and overseas, according to an exchange filing on Friday.
KEC International's stock was trading 4.60% higher at Rs 653.1 apiece compared to a 0.02% decline in the benchmark NSE Nifty 50 as of 10:10 a.m. The shares gained as much as 8.09% intra-day to Rs 674.9 apiece, the highest level since Aug. 2.
It has risen nearly 31.2% year-to-date. The total traded volume stood at 6.7 times its 30-day average. The relative strength index at 58.6.
Out of the 26 analysts tracking KEC International, 13 maintain a 'buy' rating on the stock, five recommend a 'hold' and eight suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 1.4%.
