Kirloskar group shares: Shares of Kirloskar Group companies saw a rally of up to 8 per cent in intraday on BSE on Thursday, 17 November. Kirloskar Oil Engines (KOEL) shares rose nearly 8 per cent to Rs 347.10 and have gained 20 per cent in the last four trading sessions. At the same time, Kirloskar Pneumatic Company i.e. KPCL gained more than 8 percent in intraday to reach the level of Rs 643. The stock has gained 14 per cent in the last four days.
How much did the shares run in six months?
Shares of Kirloskar Industries gained more than 3 per cent in intraday to reach the level of Rs 2,080. In the last six months, the stock of Kirloskar Oil Engines has gained 131 per cent, Kirloskar Pneumatic 53 per cent and Kirloskar Industries 40 per cent.
KOEL stock at multi-year high
KOEL is trading at multi-year highs after strong results during the July-September quarter. Earlier, the stock had touched its high in August 2018. KOEL manufactures diesel engines, agricultural equipment and generator sets. KOEL's profit almost doubled to Rs 82.75 crore during the period, as against Rs 41.7 crore in the same quarter last year. At the same time, the revenue increased by 23 percent to Rs 1,228 crore during this period.
What is the opinion of the brokerage?
According to analysts at HDFC Securities, KPCL is seen to be well positioned on the back of revival in government and private sector capex. The brokerage said, “The company is financially sound. As a sector, capital goods have been rerated on the expectation of better order flow and execution. KPCL has set ambitious targets. This can increase its earnings and valuation.
KPCL is an important company in CNG business in India. It has entered into technology partnerships with leading global companies and research institutions.
Fill Up The Form and we will call you