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Shares of KEC International jumped on strong December quarter results. Shares of KEC International Ltd, engaged in the construction of utility projects, rose as much as 6.7 per cent to Rs 371. The stock posted its biggest intraday percentage gain since December.
The company had said on Tuesday that the December quarter profit surged nearly 79 per cent to Rs 112 crore ($17.47 million). Current unexecuted order book stands at Rs 17,148 crore.
Strong order backlog coupled with a steady order pipeline in transmission and distribution, and railways segments ensure robust revenue visibility over the next couple of years - Emkay Global Financial analysts said in a note.
Nineteen of 24 brokerages have rated the stock as “buy” or higher, four “hold” and one “strong sell"; their median price target is Rs 376.
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