India's KEC International hits record high on $98 mln order win

KEC International

04/04/2024 05:07

** Shares of KEC International  KECL.NS  up as much as 9.6%
at record high of 798.75 rupees
    ** Stock posts biggest intraday pct gain since last May 
    ** Engineering and construction company has secured new
orders worth 8.16 bln rupees ($97.8 mln) across various
businesses
    ** "With these orders, our total order intake for FY24
stands at 181.02 bln rupees," said MD & CEO, Vimal Kejriwal
    ** KECL up 14.8% for the week so far, poised for third
straight weekly gain
    ** More than 1.8 mln shares change hands in early trade,
2.9x the 30-day avg
    ** Mean rating of 20 analysts covering stock is "hold";
median PT is 665 rupees - LSEG data
    ** Including session's gain, stock is up 34.4% YTD 


($1 = 83.4340 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))