KEI Industries shares were trading higher for the fifth straight day, up 4 percent at Rs 486 on the BSE on Friday, after the company reported a strong operational performance in the March quarter (Q4FY19).
in the current week, it has rallied 25 percent, as compared to a 2.6 percent rise in the S&P BSE Sensex. In the past three months, it has surged 51 percent against an 8.5 percent gain in the benchmark index.
Net sales grew 22 percent at Rs 1,259 crore, while net profit jumped 21 percent at Rs 60 crore over the previous year quarter.
The management has guided 18-20 percent growth in revenues in FY20 on the back of demand from the conversion of refineries to meet BS VI norms, metro projects, distribution strengthening in power sector and state orders for underground cabling to improve overall efficiency and reduce AT&C losses.
Read EquityPandit’s Nifty Energy Outlook for this