Kirloskar Oil Engines surged 4.22% to Rs 154.30 at 14:18 IST on BSE after three block deals aggregating 19.20 lakh shares were executed on BSE.
A block deal of 6.4 lakh shares was executed at Rs 163.50 per share at 12:37 IST. Another block deal of 9.6 lakh shares was executed at Rs 163.50 per share at 12:37 IST. Third block deal of 3.2 lakh shares was executed at Rs 161.85 per share at 12:38 IST. The three block deals constitute 1.32% of Kirloskar Oil Engines' equity.
Meanwhile, the S&P BSE Sensex was down 331.59 points or 1.61% at 20,303.54.
On BSE, 19.44 lakh shares were traded in the counter as against average daily volume of 1,306 shares in the past two weeks.
The stock hit a high of Rs 163.50 and a low of Rs 149.95 so far during the day.
Kirloskar Oil Engines' net profit fell 44.9% to Rs 30.67 crore on 15.9% decline in net sales to Rs 508.88 crore in Q2 September 2013 over Q2 September 2012.
Kirloskar Oil Engines is one of the leading and largest manufacturers of diesel engines ranging in capacity from 4 hp to 800 hp and from 2,400 hp to 11,000 hp, with an annual manufacturing volume in excess of 2.25 lakh engines. The company has a sizable presence in international markets, with offices in Dubai, South Africa, and Kenya, and representatives in Indonesia and Nigeria. It also has a strong distribution network throughout the Middle East and Africa.
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