CapitalMarket.com - KEC International drops on profit booking
Hot Pursuit Friday, July 06, 2012 13:31 Hrs IST

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KEC International drops on profit booking

KEC International fell 0.65% to Rs 60.75 at 13:29 IST on BSE, with the stock sliding on profit booking after 5-day 10.37% rally.

Meanwhile, the BSE Sensex was down 31.35 points or 0.18% to 17,507.32.

On BSE, 30,000 shares were traded in the counter as against average daily volume of 48,053 shares in the past one quarter.

The stock hit a high of Rs 62.10 and a low of Rs 60 so far during the day. The stock had hit a 52-week low of Rs 31.80 on 20 December 2011. The stock had hit a 52-week high of Rs 84.25 on 21 July 2011.

The stock had outperformed the market over the past one month till 5 July 2012, surging 19.78% compared with the Sensex's 9.48% rise. The scrip had, however, underperformed the market in past one quarter, falling 8.25% as against Sensex's 0.3% gain.

The company has an equity capital of Rs 51.42 crore. Face value per share is Rs 2.

The KEC International stock had rallied 10.37% in five trading sessions to settle at Rs 61.15 on Thursday, 5 July 2012, from a recent low of Rs 55.40 on 28 June 2012.

KEC International after market hours on Wednesday, 4 July 2012 said it has secured new orders aggregating Rs 795 crore spread across its transmission and power systems businesses.

In transmission business, KEC International has secured three orders worth Rs 600 crore -- two orders aggregating Rs 546 crore from Power Grid Corporation of India (PGCIL) and one order worth Rs 54 crore from Ceylon Electricity Board, Sri Lanka.

In power systems business, KEC International has received three orders from Kenya aggregating Rs 195 crore -- two orders for setting up substations on turnkey basis and the other order for setting up underground cables on turnkey basis. These orders are from the Kenya Power and Lighting Company (KPLC), KEC International said in a statement.

KEC International early this week said it has completed the phase-1 expansion by commending the commercial production of high tension (HT) power cables (up to 33 kV) at its green-field facility at Vadodara in Gujarat with effect from 2 July 2012. This will have annual production capacity of approximately 1,800 kilometers (KM) of cables, the company said in a statement.

In phase-2, the company is in process of expanding its product portfolio by commencing manufacturing of extra high voltage (EHV) power cables (up to 220 kV) at its green-field facility at Vadodara in Gujarat. This facility will also have capability to manufacture 400 kV EHV cables, KEC International said in a statement. The company expects to complete phase-2 expansion shortly, the company added. On completion of both the phases, the Vadodara facility will have total annual production capacity of approximately 4,000 KM of cables, KEC International said in a statement.

KEC International's consolidated net profit fell 5.3% to Rs 74.42 crore on 32.1% growth in net sales to Rs 2018.18 crore in Q4 March 2012 over Q4 March 2011.

KEC International is a global infrastructure engineering, procurement and construction (EPC) company. It has presence in the verticals of power transmission, power systems, cables, railways, telecom and water. The company has powered infrastructure development in 46 countries across South Asia, Middle East, Africa, Central Asia and Americas. It is a flagship company of the RPG Group.

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