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Shares of KEC International Ltd. rose to the highest level in two weeks after it secured new orders of Rs 1,007 crore across various businesses. The deals include construction of a multispecialty hospital in India, 380 kV overhead transmission line in the Middle East and supply of cables in India and overseas. The scrip rose 4.60% to 653.1 apiece as of 10:10 a.m., as compared to 0.02% decline in the NSE Nifty 50. The stock gained as much as 8.09% intraday to Rs 674.9 apiece, the highest level since Aug. 2, 2023. It has risen nearly 31.2% year-to-date. Total traded volume stood at 6.7 times its 30-day average. The relative strength index at 58.6. Out of the 29 analysts tracking the company, 13 maintain a 'buy' rating, five recommend a 'hold' and eight suggest to 'sell' the stock, as per the Bloomberg data. The average calculated from the 12-month price target given by analysts implies a potential upside of 1.4%. Source: Bloomberg, Exchange filing Jio Financial Services lists at Rs 262 apiece on NSE vs derived price of Rs 261.85. Jio Financial Services lists at Rs 265 apiece on BSE vs derived price of Rs 261.85. Source: Exchanges Shares of PNB Housing Finance Ltd. jumped over 8% intra-day after the lender recovered a corporate non-performing account worth Rs 784 crore via an ARC sale under Swiss Challenge method, as per an exchange filing. Shares of PNB Housing Finance Ltd. rose 4.97% to 666.95 apiece as of 9:34 a.m., as compared to 0.27% advance in the NSE Nifty 50. The stock gained as much as 8.29% intra-day at Rs 688 apiece, the highest level since July 25, 2023. It has risen nearly 51.3% year-to-date. Total traded volume stood at 23.4 times its 30-day average. The relative strength index was at 61. Out of the 10 analysts tracking the company, seven maintain a 'buy' rating, one recommends a 'hold' and two suggest to 'sell' the stock, as per the Bloomberg data. The average calculated from the 12-month price target given by analysts implies a potential upside of 10.6%. Source: Bloomberg, Exchange filing The broader market indices opened higher; the S&P BSE MidCap Index was up 0.43%, whereas S&P BSE SmallCap Index was 0.58% higher. All the 19 sectors compiled by BSE advanced. S&P BSE Utilities and S&P BSE Power gained the most. The market breadth was skewed in the favour of the buyers. About 1,864 stocks rose, 759 declined, while 144 remained unchanged on the BSE. Source: BSE
Read more: bloombergquint
