KEC International Shares At Over Three-Week High After Multiple Order Wins
The company has won multiple orders from both India and from overseas amounting to a total of Rs 1,036 crore.
Shares of KEC International Ltd. rose to over a three-week high on Tuesday after the company won multiple orders worth a total of Rs 1,036 crore from both India and overseas.
In the transmission and distribution category, KEC International will set up overhead transmission lines in United Arab Emirates and supply towers and hardware in the Americas, according to an exchange filing.
The company received an order for conventional work on the railways in India. It has also won orders for the supply of various cables in India and overseas. The company did not disclose the names of the parties it has received orders from.
Shares of the company rose as much as 6.59% intraday, the highest level since April 5. They were trading 2.12% higher at 12:43 p.m., compared to a 0.43% advance in the NSE Nifty 50.
The stock gained 50.30% in last 12 months and 26.87% year-to-date. Total traded volume so far in the day stood at 2.2 times its 30-day average. The relative strength index was at 58.59.
Of the 25 analysts tracking the company, 13 maintain a 'buy' rating, five recommend a 'hold', and seven suggest a 'sell', according to Bloomberg data. The average 12-month analysts' price target implies an upside of 4.7%.
