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Shares of KEC International have gained 4% to Rs 105 on the BSE in an otherwise subdued market after the company entered into a binding agreement for sale of its telecom assets.
The company is planning to sell its 381 telecom sites to ATC Telecom Tower Corporation Private Limited located in the states of Chhattisgarh, Meghalya and Mizoram, said the company in its filing to the BSE.
However, the transaction is subject to obtaining necessary regulatory and third party approvals and complying with the conditions mentioned in the agreement.
The stock opened at Rs 100.70, touched a high of Rs 106.50 on the BSE. At 11.10 AM, a total of 370,807 shares changed hands on the BSE so far.
