KEC International shares gain post 450% rise in Q3 profit; check details

Shares of RPG Group firm KEC International Ltd rose over 7% in early deals today after the firm reported its earnings for the quarter ended December 2023. KEC stock gained 7.32% to Rs 675 against the previous close of Rs 628.05 on BSE. Total 0.41 lakh shares of the firm changed hands amounting to a turnover of Rs 2.71 crore on BSE today. Market cap of KEC International rose to Rs 17,255 crore.     

The firm clocked a net profit of Rs 96.87 crore for the quarter ended December FY24, zooming 450 percent over a year-ago period.

Revenue from operations climbed 14.4 percent YoY to Rs 5,006.72 crore during the same period. EBITDA for the December quarter jumped 54 percent and EBITDA margins expanded 160 bps to 6.2 percent compared to year-ago period.

KEC International shares have a beta of 0.3, indicating low volatility in a year. 

In terms of technicals, the relative strength index (RSI) of the KEC International stock stands at 59.2, signaling it's trading neither in the overbought nor in the oversold zone. 

The stock is trading higher than the 5 day, 10 day, 20 day, 200 day but lower than the 30 day, 50 day and 100 day moving averages. The stock hit a 52 week high of Rs 739 on September 13, 2023 and fell to a 52 week low of Rs 437.95 on February 1, 2023.   

In a year, the stock has gained 47.03% and risen 10.64% since the beginning of this year.

On January 29, the company said it secured new orders of Rs 1,304 crore across its various businesses.

 “We are delighted with the new order wins, particularly the prestigious orders from PGCIL, which have significantly bolstered our India T&D order book. With these orders, our YTD order intake stands at Rs 13,000 crore,” said Vimal Kejriwal, MD & CEO, KEC International.

KEC International Limited is the flagship company of the RPG Group. Headquartered in Mumbai, the firm is engaged in the businesses of engineering, procurement, and construction (EPC). The company operates in key sectors such as power transmission & distribution, railways, civil, solar, smart infra, and cables.   

 

 

Also read: Nova AgriTech shares make a strong D-st debut; stock lists at 37% premium on BSE