KEI Industries hits 52-week high

In past 3 trading sessions, the stock rallied 16% after co said new production line is operational

KEI Industries reached its 52-week high of Rs 146, up 9% on the BSE on back of an over three-fold jump in trading volumes.

In past three trading sessions, the stock rallied 16% after the company on Saturday said that new production line of extra high voltage (EHV) cables at Chopanki plant is operational now.

In continuation of KEI Industries' earlier update on planned capex / expansion at Chopanki plant, on January 7, 2017 the company has announced that the new production line of extra high voltage (EHV) cables at the Chopanki plant is now operable, the company said in a BSE filing.

The company signed technical collaboration agreement with M/s Brugg Kabel AG, Switzerland to manufacture EHV cables above 220kV and up to 440kV at its manufacturing plant/facility located at Chopanki, district Alwar, Rajasthan.

Till 12:48 pm; a combined 903,594 shares changed hands on the counter on the BSE and NSE against an average sub 100,000 shares that were traded daily in past two weeks on both the exchanges. The stock is near to its all-time high of Rs 169 touched on BSE on January 10, 2008 in intra-day trade.