KEC International fell 4.55% to Rs 105 at 15:18 IST on BSE on profit booking after the stock jumped 31.34% in the preceding five trading sessions to Rs 110 on 16 April 2015, from a recent low of Rs 83.75 on 8 April 2015.
Meanwhile, the BSE Sensex was down 245.09 points, or 0.85%, to 28,420.95.
On BSE, so far 6.73 lakh shares were traded in the counter, compared with an average volume of 2.43 lakh shares in the past one quarter.
The stock hit a high of Rs 113.90 and a low of Rs 104 so far during the day. The stock hit a 52-week high of Rs 153 on 8 July 2014. The stock hit a 52-week low of Rs 71.95 on 26 March 2015.
The stock had underperformed the market over the past one month till 16 April 2015, falling 32.13% compared with 0.80% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 20.02% as against Sensex's 1.93% rise.
The small-cap company has an equity capital of Rs 51.42 crore. Face value per share is Rs 2.
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KEC International announced during trading hours yesterday, 16 April 2015, that it entered into a binding agreement for sale of its telecom assets in the states of Chhattisgarh, Meghalya and Mizoram consisting of 381 telecom sites to ATC Telecom Tower Corporation. The consideration for the sale of telecom assets is envisaged at about Rs 81 crore, the company added.
Following this announcement, shares of KEC International surged 9.13% to Rs 110 yesterday, 16 April 2015.
On consolidated basis, KEC International's net profit rose 246.9% to Rs 66.43 crore on 7.3% decline in net sales to Rs 2021.19 crore in Q3 December 2014 over Q3 December 2013.
KEC International is global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission, power systems, cables, railways, telecom and water.
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