India's KEC International falls after Power Grid excludes from tenders

Power Grid of India

19/11/2025 04:25

** Shares of KEC International Ltd KECL.NS fall as much as 7.3% to 724.7 rupees
** Engineering co excluded by Power Grid Corporation of India PGRD.NS from participating in tenders, contracts for 9 months from Nov. 18; existing projects remain unaffected
** Adds, co reviewing options, including legal recourse, seeking PGCIL reconsideration; expects no material impact on ops or financials given strong order book, tender pipeline
** Stock on track to lose for third straight day
** More than 1.7 mln shares traded as of 9:48 a.m. IST, 2.2x their 30-day moving avg
** Mean rating of stock is 'buy'; their median PT is 944.5 rupees - data compiled by LSEG
** KECL last down 5.7%, adding to YTD losses of 34.8%

 (Reporting by Meenakshi Maidas in Bengaluru)

 ((meenakshi.maidas@thomsonreuters.com;))