India's KEC International rises on Q3 profit jump

KEC International

31/01/2024 07:03

** Shares of KEC International  KECL.NS  rise as much as
7.4% to 675 rupees, their highest since Oct. 17
    ** Engineering and construction firm said on Tuesday Q3
consolidated profit jumped over five times Y/Y, while rev from
ops rose 14.4%
    ** Revenue from power transmission and distribution
business, which constitutes more than half of total revenue,
climbed 22%     
    ** Stock witnessing its most active trading session since
Sept. 13, with more than 2.2 mln shares changing hands, 5.8x the
30-day avg
    ** Avg rating of 20 analysts equivalent to "hold," median PT
is 640 rupees - LSEG data
    ** Stock up ~19% in 2023, marking fifth straight yearly
gains




($1 = 83.0820 Indian rupees)

 (Reporting by Ashish Chandra)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))