KEC International slumped 6.26% to Rs 195.45 at 14:30 IST on BSE on profit booking after the recent spurt saw the stock hitting record high on Friday, 24 March 2017.
The stock had surged 21.18% to Rs 208.50 on 24 March 2017 in five sessions, from a close of Rs 172.05 on 17 March 2017.
Meanwhile, the S&P BSE Sensex was down 142.61 points or 0.48% at 29,278.23. The S&P BSE Mid-Cap index was down 24 points or 0.17% at 13,825.18.
High volumes were witnessed on the counter. On the BSE, 1.87 lakh shares were traded on the counter so far as against the average daily volumes of 93,218 shares in the past one quarter. The stock had hit a high of Rs 208 and a low of Rs 193.30 so far during the day. The stock had hit a record high of Rs 213.40 on Friday, 24 March 2017 and a 52-week low of Rs 111.20 on 9 November 2016.
The stock had outperformed the market over the past one month till 24 March 2017, rising 25.94% compared with the 1.83% rise in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 54.85% as against Sensex's 12.98% gains.
The mid-cap company has equity capital of Rs 51.42 crore. Face value per share is Rs 2.
On a consolidated basis, KEC International's net profit surged 139% to Rs 62.60 crore on 7.5% fall in net sales to Rs 1882.44 crore in Q3 December 2016 over Q3 December 2015.
KEC International is a global infrastructure engineering, procurement and construction (EPC) major. It has presence in the verticals of power transmission and distribution, cables, railways, water and renewables. It is a RPG group company.
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