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KEI Industries slumps on profit taking after Q3 results

Capital Market/ 09:58 , Feb 07, 2012

KEI Industries tumbled 7.14% to Rs 19.50 at 9:57 IST on BSE on profit taking after the company reported 11.9% growth in net profit to Rs 5.63 crore on 61.2% growth in net sales to Rs 455.90 crore in Q3 December 2011 over Q3 December 2010.

The company announced the results after market hours on Monday, 6 February 2012.

Meanwhile, the BSE Sensex was up 10.26 points, or 0.06% to 17,717.57.

On BSE, 36,000 shares were traded in the counter as against average daily volume of 46,766 shares over the past one quarter.

The stock hit a high of Rs 21.40 and a low of Rs 19.40 so far during the day. The stock had hit a 52-week low of Rs 12.75 on 28 December 2011. The stock had hit a 52-week high of Rs 31 on 20 April 2011.

The small-cap stock had outperformed the market over the past one month till 6 February 2012, surging 41.51% compared with the Sensex's return of 11.59%. The scrip had also outperformed the market in past one quarter, gaining 23.89% as against Sensex's 0.82% gain.

The company has an equity capital of Rs 13.39 crore. Face value per share is Rs 2.

The KEI Industries stock had witnessed a pre-result rally. The stock had jumped 24.62% in three trading sessions to settle at Rs 21 on Monday, 6 February 2012, from a recent low of Rs 16.85 on Wednesday, 1 February 2012.

KEI Industries is a leading player in the wires and cables industry. The company manufactures high and low tension cables (EHV, HT & LT), control and instrumentation cables, house wires and stainless steel wires.

 



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