Stocks

KEC International slips after missing Q4 estimates

Reuters | Updated on: May 09, 2019

Shares of KEC International Ltd fell as much as 4.2 per cent to Rs 282.25, their lowest since April 11.

The company posted a profit of Rs 199 crore on Wednesday, which was below analysts' estimates of Rs 213 crore, according to the data collected by Refinitiv eikon.

“The key risks include continued deferral of domestic orders and rising working capital,” Emkay Global Financial Services said in a note.

The company’s estimated PE of 14.87 is below the sector average of 17.84, which includes Larsen & Toubro Ltd and Voltas Ltd .

KEC lost 2.26 per cent in market value this year as of Wednesday's close.

Published on May 09, 2019

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