India's KEC International rises on winning order worth 17 bln rupees

Power Grid of India

28/11/2024 04:14

** Shares of KEC International  KECL.NS  rise 7% to record high
of 1,094.7 rupees in early trade, before trimming gains to 4.9%
** Engineering and construction co gets order worth 17.04 bln
rupees ($201.8 mln) from Power Grid Corporation of India
 PGRD.NS  to install 765 kV transmission lines and GIS
substations
    ** Stock has traded above its 200-day SMA since Nov 2023,
indicating bullish sentiment
    ** More than 1.2 mln shares traded, 1.6x 30-day moving avg
    ** Avg rating of 23 analysts covering the stock is "buy,"
but median PT of 1,002.5 rupees is ~6.4% lower than current
price - LSEG data
    ** KECL extends YTD gains to ~82%
     
     
    ($1 = 84.4540 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)
((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))