Kirloskar Oil Engines soars 11%, hits over 4-year high on strong Q2 results

In the past three months, the market price of KOEL has appreciated by 86 per cent as compared to a 3.6 per cent rise in the S&P BSE Sensex

Shares of Kirloskar Oil Engines (KOEL) surged 11 per cent to hit an over four-year high of Rs 326.60 on the BSE in Wednesday’s intra-day trade.

In the past three trading days, the stock has rallied 14 per cent after the company reported a strong performance in quarter ended September 2022 (Q2FY23). It was trading at its highest level since August 2018.

KOEL is a leader in the manufacturing of diesel engines, agricultural equipment, and generator sets with a sizable presence in international markets.

In Q2FY23, the company’s net profit nearly doubled to Rs 82.50 crore against