KEC International Shares Hit Two-Month High After Bagging Multiple Orders
The stock rose as much as 7.89% during the day to Rs 829 apiece on the NSE.
Shares of KEC International Ltd. surged nearly 8% on Monday to the highest in over two months after bagging multiple orders worth Rs 1,061 crore in various segments.
In the transmission and distribution category, it has secured orders in India, East Asia-Pacific, and the US. In railways, the company managed to secure an order to build a power supply system for Bengaluru Metro Rail Corp, it said in an exchange filing.
KEC has also secured an order to supply power transmission conductors from an infrastructure player in India.
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On the NSE, shares of KEC rose as much as 7.89% during the day to Rs 829 apiece, the highest since April 4. It was trading 5.53% higher at Rs 810.35 per share, compared to a 0.30% advance in the benchmark Nifty 50 as of 1:43 p.m.
The share price has gained 43.95% in the last 12 months and 37.51% on a year-to-date basis. The total traded volume so far in the day stood at 6.5 times its 30-day average. The relative strength index was at 60.37.
Eleven out of the 23 analysts tracking the company have a 'buy' rating on the stock, five recommend 'hold' and seven suggest 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 51.4%.
