India's KEC International gains after 1.77 billion rupee tax refund

KEC International

05/03/2025 08:23

** Shares of KEC International KECL.NS climb 2.5% to 715.8 rupees

** Engineering and construction firm received an income tax refund of 1.77 bln rupees ($20 mln)

** The refund strengthens KECL's liquidity position and enhances financial leverage, co said in a statement

** Stock rated "buy" on avg, median PT is 930 rupees - data compiled by LSEG

** KECL down ~42% YTD

($1 = 87.0425 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))