India's KEC International rises on block deal

KEC International

01/01/2024 07:24

** Shares of KEC International  KECL.NS  rise as much as
3.6% to 610.4 rupees on block deal
    ** About 395,000 shares of the engineering and construction
firm change hands in one block deal at 591 rupees/share - a 0.3%
premium to stock's last close
    ** Stock last up 3.4%, set for best one-day rise in nearly a
month if current gains hold
    ** Stock trading above its 50-day simple moving avg
    ** Trading vol is 2x the 30-day daily avg, tops 800,000 for
the first time since Nov 21
     ** Avg rating of the 20 analysts covering KECL is "hold"
and median PT is 640 rupees, about 5% higher than the current
price - LSEG data
    ** Stock rose ~19% in 2023, gaining for the fifth straight
year

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))