Power Grid order charges up KEC Intl

DALAL STREET SPIKES

The share of RPG firm KEC International 2.74 per cent to Rs 181.25 in an otherwise subdued market, after the company announced it had won a Rs 69 crore order from Power Grid Corporation of India. More than 2.5 lakh shares were traded on the Bombay Stock Exchange (BSE) on Thursday. The stock continue to witnessed buying interest after the Budget bared government's renewed focus on rural electrification.

Analysts said the emphasis on rural electrification should benefit power transmission line product companies in terms of new orders. From a low of Rs 117.45 on January 20, the stock has risen 54.7 per cent in less than two months to Thursday's close of Rs 181.25

The company had reported decent December quarter results where net profit rose 31.3 per cent during the quarter ended December 2004 to Rs 9.55 crore as against Rs 7.27 crore in the same quarter last year.