K E C International Ltd Share Price – NSE  /  BSE

Capital Goods - Electrical Equipment, Small Cap

K E C International has appointed Ganesh Srinivasan as President – T&D with effect from 18 April 2024. He will lead the global T&D business of the Company.

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Jubilant Pharmova Ltd, Elgi Equipments Ltd, Alkyl Amines Chemicals Ltd, Astrazeneca Pharma India Ltd are among the other stocks to see a surge in volumes on NSE today, 04 April 2024.

K E C International Ltd recorded volume of 141.08 lakh shares by 14:14 IST on NSE, a 41.39 times surge over two-week average daily volume of 3.41 lakh shares. The stock gained 9.31% to Rs.796.55. Volumes stood at 1.09 lakh shares in the last session.

Jubilant Pharmova Ltd recorded volume of 32.62 lakh shares by 14:14 IST on NSE, a 15.23 times surge over two-week average daily volume of 2.14 lakh shares. The stock gained 9.06% to Rs.631.90. Volumes stood at 1.33 lakh shares in the last session.

Elgi Equipments Ltd saw volume of 36.54 lakh shares by 14:14 IST on NSE, a 13.44 fold spurt over two-week average daily volume of 2.72 lakh shares. The stock increased 11.85% to Rs.658.80. Volumes stood at 1.52 lakh shares in the last session.

Alkyl Amines Chemicals Ltd registered volume of 10.32 lakh shares by 14:14 IST on NSE, a 10.47 fold spurt over two-week average daily volume of 98504 shares. The stock rose 10.52% to Rs.2,153.00. Volumes stood at 51874 shares in the last session.

Astrazeneca Pharma India Ltd saw volume of 1.12 lakh shares by 14:14 IST on NSE, a 8.87 fold spurt over two-week average daily volume of 12640 shares. The stock increased 0.59% to Rs.5,120.00. Volumes stood at 8345 shares in the last session.

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Elgi Equipments Ltd, Suryoday Small Finance Bank Ltd, Alkyl Amines Chemicals Ltd and Jubilant Pharmova Ltd are among the other gainers in the BSE's 'A' group today, 04 April 2024.

K E C International Ltd spiked 13.04% to Rs 823.55 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 2.71 lakh shares were traded on the counter so far as against the average daily volumes of 26347 shares in the past one month.

Elgi Equipments Ltd surged 10.72% to Rs 652.3. The stock was the second biggest gainer in 'A' group. On the BSE, 78914 shares were traded on the counter so far as against the average daily volumes of 16247 shares in the past one month.

Suryoday Small Finance Bank Ltd soared 10.55% to Rs 185.45. The stock was the third biggest gainer in 'A' group. On the BSE, 3.39 lakh shares were traded on the counter so far as against the average daily volumes of 64349 shares in the past one month.

Alkyl Amines Chemicals Ltd rose 10.31% to Rs 2148.05. The stock was the fourth biggest gainer in 'A' group. On the BSE, 19753 shares were traded on the counter so far as against the average daily volumes of 15018 shares in the past one month.

Jubilant Pharmova Ltd advanced 9.35% to Rs 632.25. The stock was the fifth biggest gainer in 'A' group. On the BSE, 50545 shares were traded on the counter so far as against the average daily volumes of 16818 shares in the past one month.

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The headline equity benchmarks traded with limited losses in mid-morning trade. The Nifty traded below the 22,450 mark after the day's high of 22,619 in early trade. Oil & gas shares declined after advancing in the past nine trading session. Trading was volatile due to the expiry of weekly index options on the NSE.

At 11:27 IST, the S&P BSE Sensex, was down 18.48 points or 0.02% to 73,868.53. The Nifty 50 index declined 26.20 points or 0.12% to 22,408.45.

The Sensex and Nifty clocked an all-time high of 74,501.73 and 22,619, respectively in early trade.

In the broader market, the S&P BSE Mid-Cap index added 0.02% and the S&P BSE Small-Cap index rose 0.31%.

The market breadth was positive. On the BSE, 2,189 shares rose and 1,460 shares fell. A total of 134 shares were unchanged.

The RBI Monetary Policy Committee (MPC) kicked off its 3-day meeting deliberating interest rates and analysing the state of the economy on April 3 and will end on April 5. While the RBI is widely expected to keep rates on hold, any signals on inflation and economic growth will be closely watched, as per reports.

Economy:

The HSBC India Services Purchasing Managers' Index , compiled by S&P Global, rose to 61.2 last month from February's 60.6, pointed to one of the strongest growth rates seen in over 13-and-a-half years. The upturn was largely attributed to healthy demand conditions, efficiency gains and positive sales developments.

Ines Lam, Economist at HSBC, said, “India’s services PMI rose in March, following a small dip in February, on the back of strong demand that spurred sales and business activity. Service providers increased hiring at the fastest pace since August 2023 in order to expand production capacity. Input costs rose at a faster rate, yet service providers were able to broadly maintain margins by charging higher output prices.”

The HSBC India Composite PMI Output Index increased to 61.8 in March from 60.6 in February, highlighting the second-strongest upturn in over 13-and-ahalf years (behind July 2023).

IPO Update:

The initial public offer (IPO) of Bharti Hexacom received 1,84,21,338 bids for shares as against 4,12,50,000 shares on offer, according to stock exchange data at 11.22 IST on Thursday (4 April 2024). The issue was subscribed 0.45 times.

The issue opened for bidding on Wednesday (3 April 2024) and it will close on Friday (5 April 2024). The price band of the IPO is fixed at Rs 542 to 570 per share. An investor can bid for a minimum of 26 equity shares and in multiples thereof.

Buzzing Index:

The Nifty Oil & Gas index declined 1.21% 11,512.95. The index jumped 6.77% in the past nine trading sessions.

Oil India (down 3.17%), Petronet LNG (down 1.79%), Oil & Natural Gas Corporation (down 1.65%), Indian Oil Corporation (down 1.47%), GAIL (India) (down 1.37%), Reliance Industries (down 1.24%), Hindustan Petroleum Corporation (down 1.12%), Mahanagar Gas (down 1.01%), Indraprastha Gas (down 0.85%) and Bharat Petroleum Corporation (down 0.77%) edged lower.

On the other hand, Aegis Logistics (up 1%) Adani Total Gas (up 0.9%) and Gujarat State Petronet (up 0.75%) advanced.

Stocks in Spotlight:

KEC International zoomed 13.04% after the civil construction company secured new orders worth Rs 816 crore across its various businesses.

Avenue Supermarts (DMart) rallied 3.63% after the company announced that the total number of DMart stores as of 31 March 2024 stood at 365.

AU Small Finance Bank jumped 4.58% after the bank reported 26% increase in total deposits to Rs 87,182 crore as on 31 March 2024 as against Rs 69,365 crore as on 31 March 2023.

RBL Bank rose 1.17% after the bank’s total deposits jumped 22% to Rs 103,454 crore as on 31 March 2024 from Rs 84,887 crore recorded in 31 March 2023.

Global Markets:

Asian stocks traded higher on Thursday taking some positive cues from a mildly stronger overnight close on Wall Street. Markets in Hong Kong, mainland China and Taiwan are closed for a public holiday.

U.S. stocks closed mixed on Wednesday as investors digest comments from U.S. Federal Reserve Chairman Jerome Powell. Powell said it would take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain.

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