KEC Int up 5% on new orders in T&D, cable, solar businesses

Investors lapped up shares of  KEC International on Wednesday after the infrastructure EPC major received new orders worth Rs 1,029 crore in its transmission and distribution, cables, and renewable businesses. The stock gained as much as 5 percent intraday. In transmission and distribution segment, the company has secured orders worth Rs 746 crore from  Power Grid in India, Zesco in Zambia and SAE Towers in America. "In cable business, the company received orders for the supply of power and telecom cables. The total value of these orders is Rs 273 crore," said the company in its filing to BSE, adding it has secured order worth Rs 10 crore in solar space. In an interview to CNBC-TV18, Ramesh Chandak, Managing Director and CEO said the current order book of the company is Rs 9,600-10,000 crore. At 10:44 hours IST, the stock was quoting at Rs 104.15, up Rs 2.35, or 2.31 percent on the BSE.

MCX Goldm December contract gains

At 10:46 hrs MCX GOLDM November contract was trading at Rs 26732 up Rs 59, or 0.22 percent. The GOLDM rate touched an intraday high of Rs 26744 and an intraday low of Rs 26667. So far 1490 contracts have been traded. GOLDM prices have moved down Rs 1663, or 5.86 percent in the November series so far. MCX GOLDM December contract was trading at Rs 26881 up Rs 43, or 0.16 percent. The GOLDM rate touched an intraday high of Rs 26894 and an intraday low of Rs 26851. So far 215 contracts have been traded. GOLDM prices have moved down Rs 792, or 2.86 percent in the December series so far. RELATED NEWS

MCX Silver March contract trades higher

At 10:48 hrs MCX SILVER December contract was trading at Rs 38455 up Rs 92, or 0.24 percent. The SILVER rate touched an intraday high of Rs 38480 and an intraday low of Rs 38362. So far 1284 contracts have been traded. SILVER prices have moved down Rs 12545, or 24.60 percent in the December series so far. MCX SILVER March contract was trading at Rs 39079 up Rs 101, or 0.26 percent. The SILVER rate touched an intraday high of Rs 39112 and an intraday low of Rs 39050. So far 15 contracts have been traded. SILVER prices have moved down Rs 6898, or 15.00 percent in the March series so far.

Sensex, Nifty flat; Sun Pharma, Sesa, Infosys slip

Equity benchmarks opened marginally lower on Wednesday following weak global cues. The Sensex slipped 13.61 points to 26258.36 and the Nifty fell 4.75 points to 7847.65. About 437 shares have advanced, 315 shares declined, and 28 shares are unchanged. Shares of Sesa Sterlite, Infosys, Hindalco Industries, Sun Pharma, Gail India, NMDC and Jindal Steel were down 0.8-1.6 percent while NTPC, ONGC, Bharti Airtel, M&M, HUL and Tata Power gained 0.5-1 percent. The Indian rupee opened flat at 61.46 per dollar on Wednesday as against previous day's closing value of 61.43 a dollar. Dollar bulls are being forced to temper their enthusiasm post weak German data and IMF cutting its global growth forecast - dollar index eases to 85.664 off its 4-year highs. NS Venkatesh of IDBI Bank says the rupee will continue to take the cues from the equity market flows. He expects the rupee to trade in the range of 61.4-61.6/dollar. On the global front, Asian markets were trading weak following negative US cues. In the US, stocks fell sharply, extending losses into a second session, as investors fretted slowing economic growth in Europe and the potential impact on coming third-quarter earnings from US corporations. And in Europe, shares closed lower with sentiment curbed by weak economic data from Germany and a downturn on Wall Street.